Leon's Furniture Limited Announces Change to Senior Management Team

Rhea-AI Summary

Leon's Furniture (TSX: LNF) announced the resignation of Chief Financial Officer Constantine Pefanis, with Victor Diab taking over as Interim CFO. The company expressed gratitude towards Pefanis and confidence in Diab's capabilities.

Toronto, Ontario--(Newsfile Corp. - March 20, 2024) - Leon's Furniture Limited (TSX: LNF) ("LFL" or the "Company"), today announced that Constantine (Costa) Pefanis, the Company's Chief Financial Officer, intends to step down from his position at the end of next month to pursue another career opportunity. He will remain in his role until April 26, 2024, to ensure a smooth transition. Mr. Victor Diab, LFL's current Vice-President of Finance, will take over as Interim CFO following Mr. Pefanis' departure.

"On behalf of the Board of Directors and the executive team, I would like to thank Costa for his contribution to LFL," said Mr. Mike Walsh, President and Chief Executive Officer of LFL. "It was a pleasure working with Costa and we wish him the very best in his next chapter."

"I am very grateful to have had the opportunity during these last six years to serve as CFO of a Canadian success story. I have sincerely enjoyed working with such a talented team, one that I consider the best in retail," said Mr. Pefanis.

"Victor brings a wealth of knowledge to the organization having previously served in a CFO role. He is supported by a strong financial team both at the corporate level of LFL as well as the divisional levels of the Company, and will be instrumental in guiding our financial planning strategy," added Mr. Walsh.

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 303 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/202339

FAQ

Who is stepping down as Chief Financial Officer of Leon's Furniture ?

Constantine (Costa) Pefanis is stepping down as Chief Financial Officer of Leon's Furniture

Who will take over as Interim CFO after Constantine Pefanis' departure?

Victor Diab, Leon's Furniture 's current Vice-President of Finance, will take over as Interim CFO after Constantine Pefanis' departure.

When will Constantine Pefanis step down from his position?

Constantine Pefanis will step down from his position at the end of next month, on April 26, 2024.

What was Mike Walsh's statement regarding Constantine Pefanis' departure?

Mike Walsh expressed gratitude towards Constantine Pefanis for his contribution to Leon's Furniture and wished him the best in his future endeavors.

What is Victor Diab's background in relation to the CFO role?

Victor Diab brings a wealth of knowledge to the organization, having previously served in a CFO role.