Fort Worth, Texas — Pier 1 Imports, Inc. has appointed Douglas Diemoz — former CEO of Crate & Barrel — to the newly created role of president of Pier 1. Additionally, Robert Riesbeck has been named executive vice president and chief financial officer. Both positions are effective July 22, 2019. Riesbeck succeeds Deborah Rieger-Paganis, who has served as interim CFO since April 2019.
Diemoz will be responsible for day-to-day operation and performance of Pier 1’s business. He joins Pier 1 with more than two decades of retail industry experience with over half of that focused on home décor and furnishings. He most recently served as CEO of Crate & Barrel and previously held the role of chief development officer at Restoration Hardware as well as leadership positions at Williams-Sonoma, Gap Inc. and MEXX.
Riesbeck will be responsible for financial operations and accounting. He is a seasoned finance executive with more than 25 years of experience in retail and consumer goods. He brings to Pier 1 expertise in both growth and turnaround situations and has served in CFO, COO and CEO roles, most recently as CFO of FULLBEAUTY Brands. Riesbeck also served for 4 years as an operating executive at private equity firm Sun Capital Partners.
“Doug’s and Bob’s appointments are the result of two successful searches to strengthen our leadership team at a pivotal time for our company,” says Cheryl Bachelder, interim CEO. “Doug and Bob each bring expertise and skill sets that I am confident will be invaluable as we continue to get the business back on track. Doug has significant experience in home furnishings, has led corporate turnarounds as well as the development of new businesses, and has a proven ability to foster winning cultures. Bob brings strong financial acumen combined with operational experience, as well as insights from his work across a range of retailers and brands and private equity.”
In connection with the new leadership appointments, Pier 1 is also creating a new Office of the Chief Executive Officer, led by Bachelder and including Diemoz, Riesbeck and Robert Bostrom, executive vice president, chief legal and compliance officer and corporate secretary. The Office of the CEO will be responsible for guiding, supervising and directing Pier 1’s strategy, including the previously announced process to evaluate strategic alternatives. The company’s other executive officers will now report to Diemoz and oversee Pier 1’s operations and continued execution of the previously announced fiscal 2020 plan.
Founded with a single store in 1962, Pier 1 is a leading omni-channel retailer of unique home décor and accessories. The company’s products are available through more than 965 Pier 1 stores in the U.S. and Canada and online at www.pier1.com.
SOURCE: Pier 1