RH Announces CFO Transition

Furniture World News Desk on 8/15/2018

RH, recently announced the appointment of Ryno Blignaut as President, Chief Financial and Administrative Officer, effective August 14, 2018. Mr. Blignaut will lead all financial and administrative functions at RH, including strategic and financial planning, accounting, treasury, tax, internal audit, investor relations, legal, and compliance, across the Company’s multiple businesses and brands. Mr. Blignaut previously served as Chief Financial and Risk Officer at Xoom through its initial public offering and at the time of its acquisition by PayPal, Inc. Karen Boone has decided to step down from her current role to spend more time with her family, and has graciously agreed to work through a transitionary period to ensure a smooth handoff of her responsibilities.

Gary Friedman, RH Chairman and Chief Executive Officer commented, “We are extremely pleased to have Ryno join the RH leadership team. Ryno’s financial leadership and experience in working with innovative, high growth businesses makes him an excellent fit for RH during the next phase of our growth as we continue our pursuit of becoming one of the most innovative and admired brands in the world.”

“I am thrilled to be joining Gary and the leadership team at RH,” said Mr. Blignaut. “It is rare to find brands and businesses with such a strong culture and compelling vision for the future. I have been an admirer and customer of the brand for some time, and look forward to contributing to our bright future.”

Mr. Friedman continued, “All of us at RH are deeply grateful for Karen's partnership and leadership these past six years, and I have the utmost respect for her decision to prioritize spending more time with her family right now. Her contributions to RH since joining us as Chief Financial Officer in advance of our initial public offering in 2012, through the evolution of RH into the leading luxury home brand, and the recent transformation of our business model, have been invaluable. She has been a true partner to me personally, and I appreciate her willingness to work with us to ensure a smooth transition.”

Karen Boone commented, “The last six years at RH have been an extraordinary experience for me. We have accomplished a great deal since our initial public offering and I feel confident that the Company is well-positioned for the next phase of its growth and innovation. My decision to leave RH is based on my desire to spend more time with my family while my children still reside at home. My plan is to serve on some Boards of Directors but not to seek another full-time position for the next few years. I want to thank Gary for his leadership and mentorship these past six years. I will miss being a part of this innovative team of leaders, look forward to helping with the transition, and wish everyone on Team RH the very best in the years to come.”

Mr. Blignaut most recently served as the Chief Business Officer of Wheels Up, a private aviation company. Prior to that, Mr. Blignaut served in various roles at Xoom Corporation, an online and mobile money transfer company, from May 2005 until December 2015. Mr. Blignaut’s roles at Xoom included Chief Financial Officer and Chief Risk Officer through its initial public offering and at the time of its sale to PayPal. Mr. Blignaut holds a B.Comm (Hons) degree in Accounting from the University of Stellenbosch, South Africa, and is a member of the South African Institute of Chartered Accountants.

More about RH: RH is a curator of design, taste and style in the luxury lifestyle market. The Company offers collections through its retail galleries, Source Books, and online at RH.com, RHModern.com, RHBabyandChild.com, RHTeen.com and Waterworks.com.