After LL management assassinated the stock yesterday by regurgitating 10 month old news about a $30 million dollar settlement, I thought I would start today off on a jollier note.
Famous P. Rhodes, the Chief Marketing Officer at Bluegreen Vacations was unceremoniously given the boot by Bluegreen a couple of weeks ago, with not even a press release to announce his departure. I don’t know if Rhodes got fired or was “resigned.” Despite reaching out to Bluegreen IR I have yet to get any response.
Rhodes has been a director at LL since December 2017, and actually, his arrival at the company seems to be very well correlated with the unrelenting stock drop over the last 2 years. No doubt, his wisdom and guidance on the marketing front has at least been partially responsible for the advertising mess, where LL has been unable to connect with its historic customer base and seems completely clueless as to what their brand position in the marketplace actually is. Thanks for your help Famous!
Most recently, Famous P. Rhodes was the CMO at Bluegreen when the company got into an epic cross marketing legal battle with Bass Pro Shops which ended up costing the company over $40 million and sunk their merger agreement with BBX Capital. I wonder if that was what cost Famous his job?
I have been highly critical of the Board of Directors at Lumber Liquidators, not only for their terrible leadership and stewardship of the company (stock price trading below $10 speaks for itself), but also because the Directors on the board have absolutely no knowledge of, or experience in the home improvement sector. Famous P. Rhodes comes from an automotive and auto parts background, and finds himself in good company among LL directors with equally unrelated and basically useless “experience.”
Interesting to note:
- Famous P. Rhodes is still listed as CMO and EVP on his LL Bio page. Let’s update this guys!
- Douglas T. Moore is still listed as “President and Chief Executive Officer of Med-Air Homecare.” However, 6 months ago we contacted Lumber Liquidators Investor Relations with questions about Med-Air Homecare and were told that the company is in the process of “winding down.” Mr. Moore’s Bio has still not been updated to reflect the fact that “Med-Air Homecare” is not actually a functioning business. It is completely misleading to have this info posted on his executive bio.
Bonus: Wanna bet that Famous P. Rhodes soon joins the LL marketing team? Another former auto guy with 2 years under his belt in timeshare marketing should be a real gem to add to our executive management team. Watch for it!