Hardwood flooring retailer Lumber Liquidators says CEO Jeffrey Griffiths will retire and give up his seat on the board of directors in January.
The Toano, Va.-based company said late Monday that Griffiths will be replaced in both positions by President and Chief Operating Officer Robert Lynch.
Lumber Liquidators says the succession will take place Jan. 1. Griffiths will remain an employee until March 18 to help with the transition.
Griffiths has been with the company for five years.
Lynch has been president and COO since January. He had previously been president and CEO of Orchard Supply Hardware and began his career at Wal-Mart.
Lumber Liquidators has more than 260 locations in North America.