Design Within Reach CEO Quits

Design Within Reach (DWRI Quote) chief Wayne Badovinus stepped down for personal reasons, and the company named Tara Poseley to replace him.

Badovinus will become chairman, replacing John Hansen, who will remain on the board.

"During my tenure as president and chief executive officer, we have accomplished many of our objectives, including creating a unique, integrated marketplace for modern design," said Badovinus. "The foundation for the next phase of the business is securely in place and I am confident that Tara and the rest of our senior management team will continue to enhance our operating platform to maximize revenue and profitability."

The San Francisco-based furnishings company said Poseley joined Design Within Reach in August 2004 as vice president of merchandising. Her retail career began in 1989 at Gap (GPS Quote), where she served in various roles.

The company also said finance chief Ken La Honta will add the title of chief operating officer, while marketing chief Wanda Gierhart will become executive vice president of marketing and merchandising. Ray Brunner, vice president of real estate and studio operations, becomes executive vice president of real estate and studio operations.

The changes come just weeks after Design Within Reach rolled out its exclusive bedding collection, which the company said addresses "the ways people live in and use their bedrooms today."

On Thursday, Design Within reach added 15 cents to $11.25.