Williams-Sonoma, Inc. (NYSE: WSM) announced today that Adrian Bellamy will retire as Chair of the Board of Directors, effective June 3, 2020, the date of the company’s 2020 Annual Meeting of Stockholders. The Board has appointed Scott Dahnke to succeed Mr. Bellamy as the new Chair.
Mr. Bellamy joined Williams-Sonoma’s Board in 1997 and served as Lead Independent Director from 2009 to 2010 when he was elected Chair of the Board. During his tenure, he has served on all of the Board committees, including currently serving as Chair of the Compensation Committee and a member of the Nominations, Corporate Governance, and Social Responsibility Committee. Among his accomplishments, Mr. Bellamy oversaw the company’s recovery from the 2008 recession and the leadership transition from former CEO Howard Lester to current CEO Laura Alber. During his time as Chair, Williams-Sonoma achieved significant revenue and EPS growth of nearly 70% and 150%, respectively, and expanded its international presence to more than 190 locations globally. Mr. Bellamy has also been a strong advocate of sustainability and played an instrumental role in strengthening the company’s industry leadership in this area.
“We would like to thank Adrian for his 23 years of service and contributions. His leadership, experience, and commitment over these years have been invaluable to our company, and more personally, I have benefited deeply from Adrian’s advice, guidance, and friendship. We wish him the very best in his retirement,” said Ms. Alber, President and Chief Executive Officer.
Mr. Bellamy said, “It has been an immense honor to serve on the Board of Directors for more than two decades and as Chair for the past 10 years. I appreciate having had the opportunity to work with so many talented individuals at this company and I’m very proud of what we have accomplished together. It has been especially rewarding to work with Laura in her capacity as President and Chief Executive Officer. Her performance since her appointment in 2010 has been exceptional and I have every confidence in her ability to continue to lead our great Williams-Sonoma, Inc. team. The company is extremely fortunate to have Scott as its new Chair of the Board. Scott’s extensive experience partnering with companies in the global retail industry is invaluable. During our time working together on the Board, I have seen the benefits of his consumer insights firsthand. I know that he will prove to be a great partner to Laura and her team, and that Williams-Sonoma will thrive under their leadership.”
Mr. Dahnke joined the Williams-Sonoma Board as a Director in April 2019. Mr. Dahnke has served as the Global co-CEO of L Catterton since 2003, including facilitating the formation of Catterton’s partnership with LVMH, the world leader in hand-crafted, high-quality brands, in 2016. During his time at L Catterton, Mr. Dahnke has played a key role in helping to build enduring and differentiated consumer brands that foster a deep connection with customers. Prior to L Catterton, he also served as Partner at McKinsey & Company, advising on an array of strategic and operational issues for clients in the consumer sector.
Mr. Dahnke said, “I am honored to succeed Adrian as Chair of the Board. During Adrian’s tenure, Williams-Sonoma has achieved significant profitable growth, evolved into a clear leader in the home furnishings industry, and become one of the largest online retailers in the United States. I look forward to continue working with the rest of the Board, Laura, and her team as we continue delivering exceptional results for our shareholders.”
Ms. Alber added, “We are pleased to welcome Scott to his new role as Chair. Since joining our Board, Scott has leveraged his deep expertise in the global consumer industry to provide valuable insights and perspective to our business strategy. His extensive experience in building brand equity for leading consumer companies will continue to play an important role in our company’s future growth and in creating long-term value for our shareholders.”
ABOUT WILLIAMS-SONOMA, INC.
Williams-Sonoma, Inc. is a specialty retailer of high-quality products for the home. These products, representing distinct merchandise strategies — Williams Sonoma, Pottery Barn, Pottery Barn Kids, West Elm, Pottery Barn Teen, Williams Sonoma Home, Rejuvenation, and Mark and Graham — are marketed through e-commerce websites, direct-mail catalogs and retail stores. These brands are also part of The Key Rewards, our free-to-join loyalty program that offers members exclusive benefits across the Williams-Sonoma family of brands. We operate in the U.S., Puerto Rico, Canada, Australia and the United Kingdom, offer international shipping to customers worldwide, and have unaffiliated franchisees that operate stores in the Middle East, the Philippines, Mexico and South Korea, as well as e-commerce websites in certain locations. In 2017, we acquired Outward, Inc., a 3-D imaging and augmented reality platform for the home furnishings and décor industry.
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