Lumber Liquidators Holdings Inc. LL, -0.59% stated late Monday Chief government John Presley has resigned, effective Wednesday, and the corporate has named Dennis R. Knowles, Lumber Liquidators’ chief working officer, Presley’s successor. Presley will resign from the company’s board of directors Dec. 15, and Knowles has been appointed to the board efficient that date. Knowles joined the Toano, Va., company in March. Presley had been a director of the company when you consider that April 2006 and stepped up as CEO in November 2015 as part of a turnaround effort following the fallout from a “60 Minutes” record in March 2015 saying that Lumber Liquidators allegedly offered China-made wooden flooring containing unhealthy ranges of cancer-inflicting formaldehyde.A federal ruling in June indicated that a full keep in mind of one of the China-made flooring wasn’t important on condition that none of the assessments found formaldehyde above the remediation guideline. Shares of Lumber Liquidators had been flat in the prolonged session after ending the regular buying and selling day down zero.6%.
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