Pier 1 Imports Names Terry London as Interim CEO

Pier 1 Imports announced Wednesday that it has appointed Terry London, the company's chairman, to be interim president and CEO, effective Jan. 1. London will be taking over for Alex Smith, who will be leaving the home goods retailer on Dec. 31, ending his tenure as CEO. Smith is responsible for a successful turnaround for the company following the recession.

“I'm pleased to step in as interim CEO as we continue to collaborate with Korn Ferry on our search for a new chief executive officer,” said London in a statement to the press.

Total Retail's Take: Things are looking up for Pier 1. In the midst of change, London has a customer-first mind-set, which will help the retailer stand apart in a saturated home goods market.