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ATLANTA - Floor & Decor Holdings, Inc. (NYSE: NYSE:FND), a prominent retailer specializing in hard surface flooring, has announced the appointment of Bradley Paulsen as its new President. Effective April 28, 2025, Paulsen will report to Tom Taylor, the Chief Executive Officer of the company. He brings a wealth of experience from his current role as CEO of Rentokil Initial (LON:RTO) plc’s North American division and prior leadership positions at notable companies including Rexel (EPA:RXL) USA, HD Supply, and The Home Depot (NYSE:HD).
Tom Taylor, CEO of Floor & Decor, expressed his enthusiasm for Paulsen’s upcoming tenure, highlighting his extensive background in retail, commercial sales, and supply chain operations. Taylor noted that Paulsen’s principles of customer service and associate support are well-aligned with the company’s core values, anticipating that his expertise will significantly contribute to Floor & Decor’s growth.
Paulsen shared his eagerness to join Floor & Decor, commending the company’s commitment to delivering quality, trend-setting products at competitive prices. His prior experience includes nearly two decades in various executive roles, with a focus on home improvement and merchandising.
Floor & Decor operates 241 warehouse-format stores and five design studios across 38 states as of September 26, 2024. The company, founded in 2000 and headquartered in Atlanta, Georgia, offers a diverse range of in-stock hard-surface flooring options and related products.
The information regarding this executive transition is based on a press release statement. The press release also contains forward-looking statements about the company’s future, which involve risks and uncertainties that could cause actual results to differ materially. These statements are not guarantees of future performance and are subject to change.
In other recent news, Floor & Decor Holdings reported mixed results in its third-quarter earnings for fiscal year 2024. Despite facing industry challenges, the company saw a gross margin increase to 43.5% and a rise in connected customer sales. However, comparable transactions fell by 4.1% year-over-year, and net income dropped by 21.6% to $51.7 million. The company adjusted its full-year sales expectations and maintains a cautious outlook for the future.
Floor & Decor has also announced significant changes to its board. The company appointed Nada Aried, an executive with extensive technology and retail experience, to its Board of Directors effective January 1, 2025, and disclosed the upcoming retirement of Peter Starrett from the Board of Directors, scheduled for February 28, 2025.
In addition, the settlement hearing for the pending derivative litigation involving Floor & Decor has been rescheduled to December 23, 2024. The details of the litigation and the settlement terms are available on the company’s investor relations website. These are some of the recent developments for Floor & Decor Holdings.
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