La-Z-Boy Announces Kurt Darrow to Retire as CEO; Will Remain Chairman of the Board - Seite 2

W. Alan McCollough, Lead Director of the Board, said: “Kurt has made a significant impact on La-Z-Boy Incorporated. During his tenure as CEO, he strengthened the La-Z-Boy brand, honed the company’s portfolio, championed and evolved the company’s integrated-retail strategy and entered the company into the e-commerce arena. Kurt’s vision for the future helped transform La-Z-Boy’s global supply chain into a value-creating asset and set the company on a course for continued growth and profitability. Kurt led the company through two of the most challenging times in its history, the Great Recession and, more recently, through uncharted territory resulting from the global COVID-19 pandemic. La-Z-Boy was fortunate to have a CEO of his caliber. On behalf of the Board and the entire La-Z-Boy organization, I thank him for his many contributions to the company and look forward to his continued leadership of our Board.”

Whittington said, “I am honored by the opportunity to lead La-Z-Boy, with its rich and storied 94-year history and iconic brand. We have a solid platform from which to grow and prosper and a bright future ahead. Our team is proven, passionate and skilled, and we will capitalize on opportunities for future growth and innovation, including the build out of our omnichannel presence while we help consumers turn their houses into homes. I would like to thank Kurt and the Board for placing their trust and confidence in me as I move into the CEO role and lead a company made up of people with extraordinary talent and dedication.”

Whittington added, “I look forward to working with Bob as our new CFO. With his strong financial expertise and business acumen, including more than three decades of experience at The Procter and Gamble Company (P&G), he will seamlessly move into the CFO role. During his last two years as La-Z-Boy’s VP, Finance, he brought meaningful improvement to the organization’s finance processes and business decision making. I’m confident he will continue to provide financial and business leadership as our CFO.”

About Kurt L. Darrow
Kurt Darrow joined La-Z-Boy in 1979, moved through the ranks of the organization, and was named President and CEO in 2003 and Chairman in 2011. An out-of-the-box strategist, Darrow accelerated the company’s transformation from solely a chair manufacturer to one that manufactures and offers stylish and aspirational furniture for every room in the home. Under his leadership, La-Z-Boy became one of the most recognized brands in the furniture industry, is the largest reclining chair manufacturer worldwide, and is the second-largest manufacturer/distributor of residential furniture in the U.S. Darrow is also credited for the rapid expansion and evolution of the company’s branded distribution system into one of the largest in the industry, the company’s integrated-retail strategy, and the global supply chain transformation that established the company’s unique positioning in the marketplace where it offers consumers the option of mass customization with quick delivery.