Lumber Liquidators names new CEO

Embattled company Lumber Liquidators Holdings appointed board member John Presley as its new CEO.

The appointment comes five months after Robert Lynch resigned following a report that the company sourced flooring laminates with harmful levels of a known carcinogen.

Presley, who formerly led First Capital Bancorp, replaces acting CEO Thomas Sullivan, the company's founder who will become a special adviser to the chief executive and remain on the board.

Read more from Reuters.