Brian Shanahan has resigned as CEO and MD of Temple & Webster with current COO, Mark Coulter appointed interim CEO.

Shanahan co-founded the business along with Conrad Yiu, Mark Coulter and Adam McWhinney in 2011.

“The board would like to thank Brian for building Temple & Webster from an idea into the largest online retailer in its category within five years,” said Carol Schwartz, chairperson of Temple & Webster.

The management changes comes as the furniture retailer ends its Zizo brand, in a bid to focus on turning ‘Temple & Webster into a household name.’

The company has lowered its short term FY16 revenue guidance to $60-62 million as the Temple & Webster brand is ‘migrated to the technology platform of Zizo’s catalogue of 130,000 products from May 1.’

Schwartz said the appointment of Coulter ensured continuity of leadership, with Coulter recently returning to the company as COO and already running the day-to-day operations.

“FY16 has been a transformative year for the group, and this revised plan is the next phase for Temple & Webster,” said Coulter. “While the plan delivers short-term cash flow benefits and accelerates the path to profitability, I am most excited about relaunching Temple & Webster as the online retailer with the deep and broadest product range in our category.”

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