Dennis Knowles Named CEO of LL as Presley Resigns

Toano, VA, November 8, 2016—John M. Presley is resigning as chief executive officer of Lumber Liquidators, effective November 9, and the board of directors has appointed Dennis R. Knowles, the company's chief operating officer, to succeed Presley as CEO.

Presley is resigning from the board of directors effective December 15, and Knowles has been elected to the board, effective the same date, as a director in the class of directors whose current terms expire in 2017.

Knowles joined the company in March 2016 as chief operating officer responsible for the company's stores organization, sales, merchandising and marketing, installation, distribution and related operations. Knowles previously served in store operations leadership roles at Lowe's Companies since 2001, most recently as chief store operations officer. In addition to overseeing store operations at Lowes, Knowles had broad strategic and operational leadership roles in merchandising, installation, internet sales, specialty sales, proprietary credit and communications, contributing to Lowe's growth in sales and earnings during his tenure there.

Presley served as a director of the company since April 2006, stepping forward in November, 2015 to serve as the company's CEO. In February, it was announced that he was diagnosed with leukemia.