RH Announces the Appointment of David Stanchak as Chief Real Estate and Transformation Officer

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sale–leaseback financial

A sale–leaseback is a deal where a company sells an asset—usually real estate or equipment—to get cash and then immediately rents it back so it can keep using it, like selling your house and signing a lease to stay living there. It matters to investors because it boosts short-term cash and can change ongoing costs and reported debt, which affects how a company’s financial health, cash flow and valuation are viewed.

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CORTE MADERA, Calif.--(BUSINESS WIRE)-- RH (NYSE: RH) today announced that David Stanchak has returned to the Company as Chief Real Estate and Transformation Officer.

Mr. Stanchak has resumed his role leading the Company’s Global Real Estate Expansion and North American Gallery Transformation, a position he held from May 2015 through May 2021. Mr. Stanchak will also be leading efforts to monetize the Company’s significant portfolio of real estate assets in the United States and Europe.

RH Chairman and Chief Executive Officer, Gary Friedman commented, “We are thrilled Dave is rejoining Team RH. His leadership expanding our Gallery platform globally, transforming our legacy stores into Design Galleries with integrated Restaurants, Wine and Barista Bars across North America, and pioneering Sale–Leaseback Development projects contributed to the positioning of RH as the leading luxury home furnishings brand in North America.”

Over his forty-year career in the real estate industry, Mr. Stanchak has worked as a senior executive, investor, broker and attorney across all aspects of high-growth, multi-unit retail brand development. He has had direct responsibility for opening more than 2,500 retail stores and deploying more than $2.5 billion of capital for some of the largest retailers in the United States, including RH.

Mr. Stanchak reports to RH’s Chairman and Chief Executive Officer, Gary Friedman, and serves as a member of the Company’s Executive Leadership team.

ABOUT RH

RH (NYSE: RH) is a global curator of design, taste and style in the luxury lifestyle market. Operating across the United States, Canada, the United Kingdom and Europe, the Company offers collections through its retail galleries, sourcebooks and online at RH.com, RHModern.RH.com, RHBabyandChild.RH.com, RHTEEN.RH.com and Waterworks.RH.com, with integrated hospitality experiences in galleries throughout the United States and internationally.

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PRESS CONTACT
truthgroup@RH.com

INVESTOR RELATIONS CONTACT
Allison Malkin, 203.682.8225, allison.malkin@icrinc.com

Source: RH