Pier 1 Imports, Inc. announced the appointment of Douglas Diemoz to the newly created role of President and Robert Riesbeck as Executive Vice President and Chief Financial Officer, both effective July 22, 2019. Mr. Riesbeck succeeds Deborah Rieger-Paganis, who has served as Interim Chief Financial Officer since April 2019. Mr. Diemoz, 51, will be responsible for day-to-day operation and performance of Pier 1's business, including merchandise buying, planning and allocations, marketing, field and e-Commerce operations, global supply chain, information technology and human resources.

He joins Pier 1 with more than two decades of retail industry experience with over half of that focused on home décor and furnishings. He most recently served as Chief Executive Officer of Crate & Barrel and previously held the role of Chief Development Officer at Restoration Hardware as well as leadership positions at Williams-Sonoma, The Gap, Inc. and MEXX. Mr. Riesbeck, 55, will be responsible for financial operations and accounting, including financial reporting, planning and analysis, treasury, tax, procurement and investor relations.

He is a seasoned finance executive with more than 25 years of experience in retail and consumer goods. He brings to Pier 1 expertise in both growth and turnaround situations and has served in Chief Financial Officer, Chief Operating Officer and Chief Executive Officer roles, most recently as Chief Financial Officer of FULLBEAUTY Brands. Mr. Riesbeck also served for four years as an operating executive at private equity firm, Sun Capital Partners.

In connection with the leadership appointments announced, Pier 1 is also creating a new Office of the Chief Executive Officer, led by Cheryl Bachelder, Interim Chief Executive Officer, and including Mr. Diemoz, Mr. Riesbeck and Robert Bostrom, Executive Vice President, Chief Legal and Compliance Officer and Corporate Secretary. The Office of the CEO will be responsible for guiding, supervising and directing Pier 1's strategy, including the previously announced process to evaluate strategic alternatives. The Company's other executive officers will now report to Mr. Diemoz and oversee Pier 1's operations and continued execution of the previously announced fiscal 2020 plan.