Pier 1 Imports has appointed Douglas Diemoz to the newly created role of president and Robert Riesbeck as evp/chief financial officer, both effective July 22, 2019.
Riesbeck succeeds Deborah Rieger-Paganis, who has served as interim CFO since April 2019.
Diemoz will be responsible for day-to-day operation and performance of Pier 1’s business, including merchandise buying, planning and allocations, marketing, field and e-commerce operations, global supply chain, information technology and human resources. He joins Pier 1 with more than two decades of retail industry experience with over half of that focused on home décor and furnishings. He most recently served as CEO of Crate & Barrel and previously held the role of chief development officer at Restoration Hardware as well as leadership positions at Williams-Sonoma and The Gap.
Riesbeck will be responsible for financial operations and accounting, including financial reporting, planning and analysis, treasury, tax, procurement and investor relations. He is a seasoned finance executive with more than 25 years of experience in retail and consumer goods. He brings to Pier 1 expertise in both growth and turnaround situations and has served CFO, COO and CEO roles, most recently as CFO of Full Beauty Brands. Riesbeck also served for four years as an operating executive at private equity firm, Sun Capital Partners. Previously, he served as CFO and then CEO and president of hhgregg, Inc.
“Doug’s and Bob’s appointments are the result of two successful searches to strengthen our leadership team at a pivotal time for our company,” said Cheryl Bachelder, interim CEO, Pier 1 Imports. “Doug and Bob each bring expertise and skill sets that I am confident will be invaluable as we continue to get the business back on track. Doug has significant experience in home furnishings, has led corporate turnarounds as well as the development of new businesses, and has a proven ability to foster winning cultures. Bob brings strong financial acumen combined with operational experience, as well as insights from his work across a range of retailers and brands and private equity.”
Bachelder continued, “With the addition of Doug and Bob to our management team, we have assembled a strong group of leaders, each contributing the essential capabilities in their individual areas of responsibility, to help drive Pier 1’s transformation. Further, the creation of our Office of the Chief Executive Officer will provide strong and cohesive oversight as we focus on providing our customer with the unique finds she expects from us and continue our work in restoring the health and promise of the business.”
In connection with the leadership appointments, Pier 1 is also creating a new Office of the Chief Executive Officer, led by Bachelder, and including Diemoz, Riesbeck and Robert Bostrom, evp/chief legal and compliance officer and corporate secretary. The Office of the CEO will be responsible for guiding, supervising and directing Pier 1’s strategy, including the previously announced process to evaluate strategic alternatives. The company’s other executive officers will now report to Diemoz and oversee Pier 1’s operations and continued execution of the previously announced fiscal 2020 plan.