Lumber Liquidators Founder Resigns from Board

Toano, VA, January 2, 2017—Lumber Liquidators founder Thomas D. Sullivan, who served as its longtime chairman and CEO, has resigned as a board member, effective December 30, 2016, reports the Richmond Times-Dispatch.

His resignation comes after the company decided to move him from an employee director to a non-employee director “to more closely align with the go forward role that Mr. Sullivan would be performing for the company,” according to a filing with the U.S. Securities and Exchange Commission.

Following that decision, Sullivan submitted his resignation as a company director.

Sullivan served as board chairman from 1994 through May 2015 and as president and CEO from 1994 to September 2006.

He stepped in as interim CEO in 2015 when it was found that some of the company’s Chinese-made laminate flooring had high levels of formaldehyde.