Pier 1 Imports has named CFO Robert Riesbeck as its new CEO. He will also become a company director. At the same time, Pier 1 said that Donna Colaco, who had been evp/chief customer officer, has assumed the role of president.
Cheryl Bachelder, who has served as interim CEO since December 2018, is stepping down from that role, although she remains as a director on the Pier 1 board. Douglas Diemoz, who was president, has left the company, Pier 1 noted. Diemoz, hired in July, held leadership positions at Crate & Barrel, Restoration Hardware and Williams-Sonoma before moving to Pier 1.
Riesbeck joined Pier 1 at the same time as Diemoz after serving as CFO of Fullbeauty Brands. Colaco, who joined Pier 1 in December of last year, previously was brand president of White House Black Market, a Chico’s FAS operation. Colaco will continue to supervise merchandising, planning and allocation, marketing, e-commerce and promotion.
“Bob has stepped into a leadership role at Pier 1 with a sense of urgency and deep capability, and we are thrilled to appoint him as CEO,” said Terry London, Pier 1 board chairman. “We thank Cheryl for serving Pier 1 as interim CEO over the last 10 months. She has made important progress in developing a clear plan and roadmap for success, including assembling a strong team to guide the company into the future. We are pleased that she will continue to play an active role as a member of the board.”