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Leon’s Furniture (TSX: LNF) announced the immediate retirement of Mark Joseph Leon from his role as Director. Mark has held various key roles over several decades, including President, CEO, Vice Chairman, Chairman, and most recently Chairman Emeritus since early 2024. He has been a Board member for 30 years.
Replacing him is Lewis Mark Leon, who has been with the company full-time since 2005. Lewis has served as Marketing Manager and Associate VP of Marketing for the Leon’s Division before being promoted to President of the Leon’s Division in May 2023.
Positive
- Mark Joseph Leon’s retirement marks the end of a long and impactful tenure at LFL, providing an opportunity for new leadership dynamics.
- Lewis Mark Leon’s extensive experience within LFL, including his recent promotion to President of the Leon’s Division, ensures continuity and informed leadership.
- The appointment of a new Director shows the company’s proactive approach to governance and succession planning.
Negative
- The retirement of Mark Joseph Leon, a long-standing and highly experienced board member, may create a knowledge gap.
- Transition phases can introduce uncertainty, which might concern investors about the stability and future direction of the company.
Toronto, Ontario–(Newsfile Corp. – June 17, 2024) – Leon’s Furniture Limited (TSX: LNF) (“LFL” or the “Company”), today announced that effective immediately, Mark Joseph Leon has retired from his role as Director of LFL. Mark has been a fixture at Leon’s for decades, having served in many roles, including President from 1989 to 2002, Chief Executive Officer from 1993 to 2005, Vice Chairman from 2002 to 2005, Chairman from 2005 to 2023, and most recently as Chairman Emeritus since the beginning of 2024. Mark has also been a member of the Board of Directors for 30 years. We will miss Mark’s extensive knowledge and thoughtful guidance, and wish him well in the next chapter of his life.
The Board of Directors has appointed Lewis Mark Leon to fill the vacant Board of Director position. Lewis has been around LFL all of his life, but joined the Company on a full-time basis in 2005. He served in the role of Marketing Manager for many years before accepting the title of Associate Vice President of Marketing for the Leon’s Division. Lewis was promoted to the position of President of the Leon’s Division on May 12, 2023.
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 300 retail stores from coast to coast in Canada under various banners. The Company operates six websites: , , , , and .
For further information,
please contact:
Victor Diab
Chief Financial Officer, Leon’s Furniture Limited
Tel: (416) 243-4074
Jonathan Ross
LodeRock Advisors, Leon’s Investor Relations
Tel: (416) 283-0178
To view the source version of this press release, please visit
FAQ
Who is the new Director of Leon’s Furniture (LEFUF)?
Lewis Mark Leon has been appointed as the new Director of Leon’s Furniture (LEFUF).
When did Mark Joseph Leon retire from Leon’s Furniture (LEFUF)?
Mark Joseph Leon retired from his role as Director of Leon’s Furniture (LEFUF) effective immediately as of June 17, 2024.
What roles has Mark Joseph Leon held at Leon’s Furniture (LEFUF)?
Mark Joseph Leon has served as President, CEO, Vice Chairman, Chairman, and Chairman Emeritus over his decades-long career at Leon’s Furniture (LEFUF).
Who was promoted to President of the Leon’s Division in May 2023?
Lewis Mark Leon was promoted to President of the Leon’s Division in May 2023.