Gary Friedman, who runs Restoration Hardware, will take over a new branch of the company. The New York Times reported last month that Friedman quit after an internal inquiry into an allegedly intimate relationship he had with a 26-year-old employee.
But the company sent us this release saying that Friedman would be in charge of Hierarchy.
They describe what Hierarchy is:
“Under the new structure, Restoration Hardware will maintain all existing home businesses, while a new corporation will be created to develop new lines of business, including apparel, accessories, footwear and jewelry, many of which will be complementary to the Company’s new product development strategy.”
He’s taking on his new role as the furniture chain is preparing for an IPO, Andrew Ross Sorkin, Dealbook writer at the New York Times, reported.
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