Market Overview

RH Announces CFO Transition


Ryno Blignaut Appointed as President, Chief Financial and
Administrative Officer

Karen Boone to Step Down for Family Reasons

RH (NYSE:RH) today announced the appointment of Ryno Blignaut as
President, Chief Financial and Administrative Officer, effective August
14, 2018. Mr. Blignaut will lead all financial and administrative
functions at RH, including strategic and financial planning, accounting,
treasury, tax, internal audit, investor relations, legal, and
compliance, across the Company's multiple businesses and brands. Mr.
Blignaut previously served as Chief Financial and Risk Officer at Xoom
through its initial public offering and at the time of its acquisition
by PayPal, Inc. Karen Boone has decided to step down from her current
role to spend more time with her family, and has graciously agreed to
work through a transitionary period to ensure a smooth handoff of her

Gary Friedman, RH Chairman and Chief Executive Officer commented, "We
are extremely pleased to have Ryno join the RH leadership team. Ryno's
financial leadership and experience in working with innovative, high
growth businesses makes him an excellent fit for RH during the next
phase of our growth as we continue our pursuit of becoming one of the
most innovative and admired brands in the world."

"I am thrilled to be joining Gary and the leadership team at RH," said
Mr. Blignaut. "It is rare to find brands and businesses with such a
strong culture and compelling vision for the future. I have been an
admirer and customer of the brand for some time, and look forward to
contributing to our bright future."

Mr. Friedman continued, "All of us at RH are deeply grateful for Karen's
partnership and leadership these past six years, and I have the utmost
respect for her decision to prioritize spending more time with her
family right now. Her contributions to RH since joining us as Chief
Financial Officer in advance of our initial public offering in 2012,
through the evolution of RH into the leading luxury home brand, and the
recent transformation of our business model, have been invaluable. She
has been a true partner to me personally, and I appreciate her
willingness to work with us to ensure a smooth transition."

Karen Boone commented, "The last six years at RH have been an
extraordinary experience for me. We have accomplished a great deal since
our initial public offering and I feel confident that the Company is
well-positioned for the next phase of its growth and innovation. My
decision to leave RH is based on my desire to spend more time with my
family while my children still reside at home. My plan is to serve on
some Boards of Directors but not to seek another full-time position for
the next few years. I want to thank Gary for his leadership and
mentorship these past six years. I will miss being a part of this
innovative team of leaders, look forward to helping with the transition,
and wish everyone on Team RH the very best in the years to come."

Mr. Blignaut most recently served as the Chief Business Officer of
Wheels Up, a private aviation company. Prior to that, Mr. Blignaut
served in various roles at Xoom Corporation, an online and mobile money
transfer company, from May 2005 until December 2015. Mr. Blignaut's
roles at Xoom included Chief Financial Officer and Chief Risk Officer
through its initial public offering and at the time of its sale to
PayPal. Mr. Blignaut holds a B.Comm (Hons) degree in Accounting from the
University of Stellenbosch, South Africa, and is a member of the South
African Institute of Chartered Accountants.

About RH

RH (NYSE:RH) is a curator of design, taste and style in the luxury
lifestyle market. The Company offers collections through its retail
galleries, Source Books, and online at,,, and

Forward-Looking Statements

This press release contains forward-looking statements within the
meaning of the federal securities laws, including statements regarding
our next phase of growth, our business model and becoming one of the
most innovative and admired brands in the world, the expected benefits
to RH of the appointment of Mr. Blignaut as President, Chief Financial
Officer and Administrative Officer, our plans and efforts to assure a
smooth and orderly transition of responsibilities from Ms. Boone to Mr.
Blignaut and any statements or assumptions underlying any of the
foregoing. You can identify forward-looking statements by the fact that
they do not relate strictly to historical or current facts. These
statements may include words such as "anticipate," "estimate," "expect,"
"project," "plan," "intend," "believe," "may," "will," "should,"
"likely" and other words and terms of similar meaning in connection with
any discussion of the timing or nature of future events. We cannot
assure you that future developments affecting us will be those that we
have anticipated. Important risks and uncertainties that could cause
actual results to differ materially from our expectations include, among
others, our ability to retain key personnel; risks related to the number
of new business initiatives we are undertaking; successful
implementation of our growth strategy; our ability to anticipate
consumer preferences and buying trends, and maintaining our brand
promise to customers; as well as those risks and uncertainties disclosed
under the sections entitled "Risk Factors" and "Management's Discussion
and Analysis of Financial Condition and Results of Operations" in RH's
most recent Form 10-K filed with the Securities and Exchange Commission,
and similar disclosures in subsequent reports filed with the SEC, which
are available on our investor relations website at and on the
SEC website at
You should not place undue reliance on these forward-looking statements.
Any forward-looking statement made by us in this press release speaks
only as of the date on which we make it. We undertake no obligation to
publicly update any forward-looking statement, whether as a result of
new information, future developments or otherwise, except as may be
required by any applicable securities laws.

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