Luxury retailer RH promotes Jack Preston as CFO plans to step down

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Marin County-based home and lifestyle decor retailer RH (NYSE: RH) on Tuesday announced the promotion of Jack Preston to chief financial officer.

For health reasons, Ryno Blignaut plans to step down April 3, or as soon as the company annual report is filed, according to the company. He came to RH six months months ago as president and chief administrative and financial officer, after top roles at Wheels Up, Xoom and PayPal.

Preston moves into oversight of strategic and financial planning, accounting, treasury, tax, internal audit and investor relations from his role as senior vice president for finance and chief strategy officer. He came to the company in 2013 from over a dozen years in investment banking at Bank of America Merrill Lynch, where he was involved in RH's latest initial public offering.

“During Jack’s six years at RH, he has been a key contributor in the architecture of our new membership and business models, as well as leading multiple financing and capital markets transactions including our three 0% convertible note offerings and share repurchase programs,” said Gary Friedman, chairman and CEO in the announcement. “All of us at RH are grateful for Ryno’s contributions and understand that he currently needs to allocate a substantial portion of his time to personal matters. We appreciate Ryno’s willingness to work closely with Jack and the RH leadership team to help ensure a smooth transition and wish Ryno and his family all the best for the future.”

Mr. Blignaut said Preston "has been a key partner to me during my time" at RH.

The company said it plans to report fiscal fourth-quarter and 2018 financial results the week of March 25.

Preston earned a Bachelor of Commerce degree from the University of British Columbia.

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