Tile Shop Holdings, Inc. Announces Management Changes
December 20, 2018 at 07:05 am EST
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The Board of Directors of Tile Shop Holdings, Inc. has named Cabell (Cabby) Lolmaugh as the company's next president and chief executive officer, effective January 1, 2019. Mr. Lolmaugh, 40, is a 17-year veteran of the company who will also join its Board of Directors. As the company's new CEO, Mr. Lolmaugh's top priority will be to continue the Company's initiatives to deliver the best product assortment, best presentation and best service.
In 2017, he was promoted to Vice President of Retail Stores West. Since February 19, 2018, Mr. Lolmaugh has been Senior Vice President and Chief Operating Officer, and has led the Company's efforts to pivot back to the business model that proved successful for over 30 years. This included increasing the Company's product assortment by over 2,000 skus, implementing new merchandising and display features, enhancing the Company's regional store management structure, improving the sales associate compensation system, and strengthening the Company's connection with its professional channel partners.
Mr. Lolmaugh was not appointed pursuant to any arrangement or understanding with any person, and Mr. Lolmaugh does not have any family relationships with any directors or executive officers of the Company. Neither Mr. Lolmaugh nor any member of his immediate family has been a party to any transaction with the company during the Company's prior fiscal year or current fiscal year, nor is any such transaction currently proposed, that would be reportable under Item 404(a) of Regulation S-K. In connection with Mr. Lolmaugh's appointment as Chief Executive Officer, Robert Rucker, the company's current interim Chief Executive Officer, will step down. Mr. Rucker will remain a member of the company's Board of Directors and will serve as a consultant to the company during 2019.
Tile Shop Holdings, Inc. is a specialty retailer of natural stone and man-made tiles, setting and maintenance materials, and related accessories in the United States. The Company offers an assortment of natural stone and man-made tile products. Its natural stone products include marble, travertine, granite, quartz, sandstone, slate, and onyx tiles. The Company's man-made products include ceramic, porcelain, glass, cement, wood look, metal and luxury vinyl tile. The Companyâs assortment of accessories, including mosaics, pencils, listellos, and other products. It also offers a range of setting and maintenance materials, such as thinset, grout, sealers, and accessories, including installation tools, shower and bath shelves, drains, and similar products. The Company also offers customers delivery service through third-party freight providers. The Company sells its products under brand names, including Superior Adhesives & Chemicals, Superior Tools & Supplies, Rush River, and Fired Earth.