Leon's Furniture Limited Announces Appointment of Victor Diab as Chief Financial Officer
Leon's Furniture (TSX: LNF) has appointed Victor Diab as Chief Financial Officer (CFO), effective June 11, 2024. Diab had been serving as Interim CFO since April 26, 2024, following the departure of Constantine Pefanis. CEO Mike Walsh highlighted Diab's exceptional financial and strategic leadership during his interim tenure and his previous roles at the company. Diab's expertise is expected to be important in advancing the core retail business, generating operational efficiencies, and leveraging the company's extensive real estate portfolio. Diab expressed his commitment to growth, profitability, and enhancing retail operations to benefit shareholders and the company's overall success.
- Victor Diab's appointment as CFO brings proven financial and strategic leadership.
- Diab's expertise expected to strengthen core retail business and operational efficiencies.
- Leon's Furniture aims to leverage its extensive real estate portfolio under Diab's leadership.
- Departure of previous CFO, Constantine Pefanis, may indicate internal changes or challenges.
- Interim period might have caused temporary instability in financial leadership.
Toronto, Ontario--(Newsfile Corp. - June 11, 2024) - Leon's Furniture Limited (TSX: LNF) ("LFL" or the "Company"), today announced that Mr. Victor Diab has been appointed Chief Financial Officer of the Company. Mr. Diab assumed the role of Interim CFO upon the departure of Constantine (Costa) Pefanis on April 26, 2024.
"Victor has demonstrated exceptional financial and strategic leadership during his interim tenure, as well as in his prior role with the Company and I am thrilled to announce his permanent appointment," said Mike Walsh, President and CEO of LFL. "His expertise will be invaluable as we continue to grow our core retail business, generate operational efficiencies, and realize the value of our extensive real estate portfolio. Victor's leadership will be pivotal in delivering on our mission to serve our customers better and deliver sustained value to our shareholders."
Victor Diab, CFO of LFL added, "I am honored to take on this role and excited about the opportunities that lie ahead for our company. We have a strong foundation and an unwavering commitment to growth and profitability. I look forward to working with our talented team to enhance our retail operations, better serve our customers, and unlock the full potential of our real estate assets for the benefit of our shareholders and the overall success of our business."
About Leon's Furniture Limited
Leon's Furniture Limited is the largest retailer of furniture, appliances and electronics in Canada. Our retail banners include: Leon's; The Brick; Brick Outlet; and The Brick Mattress Store. Finally, with The Brick's Midnorthern Appliance banner alongside Leon's Appliance Canada banner, this makes the Company the country's largest commercial retailer of appliances to builders, developers, hotels and property management companies. The Company has 302 retail stores from coast to coast in Canada under various banners. The Company operates six websites: leons.ca, thebrick.com, furniture.ca, midnorthern.com, transglobalservice.com and appliancecanada.com.
For further information, please contact:
Mike Walsh
President & Chief Executive Officer
Leon's Furniture Limited
Tel: (416) 243-4074
lflgroup.ca
Jonathan Ross
LodeRock Advisors, Leon's Investor Relations
jon.ross@loderockadvisors.com
Tel: (416) 283-0178
SOURCE Leon's Furniture Limited
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/212446
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