The chief executive of Crate & Barrel is moving on.
The home furnishings retailer announced that Neela Montgomery has decided to leave the company on Aug. 1 to pursue new opportunities. She is the third CEO to exit the retailer in six years. Crate & Barrel said Montgomery informed the board of her decision to step down late last year and the name of her successor will be announced shortly.
Montgomery has served as CEO of Crate & Barrel since summer 2017. Prior to that, she was a member of the executive board of the Otto Group, the parent company of Crate and Barrel, where she made significant contributions to the group's customer orientation and the integration of retail and online channels, the company said.
As CEO of Crate and Barrel Holdings, she successfully drove the continued sales growth and operational development of the company. Among other achievements, she led the expansion of the CB2 brand, the acquisition of Hudson Grace, the launch of Crate and Barrel's first full-service restaurant concept, The Table at Crate, and a more seamless integration of offline and online channels.
"I would like to personally thank Neela for her contribution to the Otto Group over the past six years, first during her tenure in Hamburg and then as the CEO of Crate and Barrel,” said Prof. Dr. Michael Otto, chairman of the supervisory board of the Otto Group. “Though we are losing a global leader whose strategic vision, customer focus and digital expertise has brought us much success, I wish her well in her future endeavors."
Crate and Barrel operates more than 100 namesake and CB2 stores throughout the U.S. and Canada, with franchise locations in nine countries.