Management ChangeJun 15, 2026, 05:02 PM
Lovesac Appoints Andrew Farag as New CFO; Keith Siegner Resigns
AI Summary
The Lovesac Company announced the appointment of Andrew Farag as its new Executive Vice President, Chief Financial Officer, and Treasurer, effective June 15, 2026. Mr. Farag brings over 20 years of strategic finance and operational leadership experience from various executive roles. Concurrently, Keith Siegner resigned from his positions, effective June 15, 2026, and will transition to a non-executive role to support the change. The company reaffirmed its second quarter and full-year fiscal 2027 financial guidance.
Key Highlights
- Lovesac appointed Andrew Farag as EVP, CFO, and Treasurer, effective June 15, 2026.
- Keith Siegner resigned as EVP, CFO, and Treasurer, effective June 15, 2026.
- Andrew Farag's base salary is $560,000, with a target annual incentive of 70% of base.
- He will receive an annual RSU grant of approximately $791,000 and a $255,000 cash signing bonus.
- Farag also gets a one-time RSU grant valued at approximately $450,000.
- Keith Siegner will receive a severance of $576,800 and accelerated vesting of 3,189 time-based and 2,963 performance-based RSUs.
- The company reaffirmed its second quarter and full-year fiscal 2027 financial guidance.
Price Impact
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