Lumber Liquidators Taps John Presley as New CEO

Toano, VA, November 4, 2015-Lumber Liquidators has announced that its board of directors has appointed John M. Presley as chief executive officer, effective November 16.

He succeeds Thomas D. Sullivan, the company's founder, who has served as acting chief executive officer since May 21.

Mr. Sullivan will serve as special advisor to the CEO and remain on the board as founder. In his new role, Mr. Sullivan will assist Mr. Presley in an advisory capacity to provide guidance and ensure continued progress toward executing the Company's vision and long-term strategy.

Nancy M. Taylor, who has been a Lumber Liquidators director since April 2014, will assume Mr. Presley's previous role of independent chairman of the board and head of the special committee. Mr. Presley will continue to serve as a member of the board.

Mr. Presley has more than 30 years of leadership experience, serving in numerous senior management roles as a CEO and CFO of public companies, most recently as chief executive officer of First Capital Bancorp since October 2008.

Mr. Presley joined Lumber Liquidators as a director in April 2006, prior to the company's initial public offering. As the head of the board's special committee, Mr. Presley has been instrumental in helping the company manage its nonoperational issues over the last several months.