Restoration Hardware Co-Chief Steps Down After Inquiry Into Intimate Relationship With Female Employee

Gary Friedman, the chairman and co-chief executive of Restoration Hardware, has stepped down from his positions after an internal inquiry into an intimate relationship he had with a 26-year-old female employee, according to people involved in the matter. The leadership change earlier this week comes at a significant moment for Restoration Hardware as it prepares for an initial public offering. Friedman, 54, often appears in the company's catalogs in jeans and a T-shirt and is considered the driving force behind the company's vision and aesthetic, which includes high-priced faux antique furniture and hardware accessories.