Restoration Hardware Announces the Resignation of Stephen Gordon, Founder and Chairman of the Board

For those who worked for “Resto” before the public days, you’ll know what I mean. For others, I’m not quite sure.. but you might. Somewhere in that transition from private to public company I think Resto lost a lot of it’s “soul”. This press release just tells me that Stephen probably thought something too.

Even, post-Resto employment, some 7 years later, I’ll never forget the day we had the conference call announcing “we were going public”. The employees we all astir with questions like: “Should I take a loan out to buy shares?”. But, I can honestly say that I considered the buy and then remembered what happened at Office Max…

I had been working at Office Max, at a similar period in the company history. I was younger than I was at Resto (and even more inspired to make a purchase) but, never did… Being an hourly employee has it’s financial limits. In both cases, shortly after the open the stocks took their tumble.

In Resto’s case, I had heard more news too… of the Williams Sonoma CEO appointment and saw the impact on the store in ’01- ’02. More bath assortment, less gadgets and gizmos…no books…fewer employees and that feeling of something missing. It had become commiditized,McDonald’s-“ified”. In short, less than the company I found when they opened two stores in Houston, TX.

The ’01 – ’02 version of Resto confirmed for me what I suspected, the soul was gone and now in ’05 I learn the mind has left too.

Good luck, Stephen… you’ve got quite a talent. It was good working for an authentic company when it was one.

Restoration Hardware – Investor Relations – Press Release