Crown Crafts Announces CFO Transition

Craig J. Demarest Retiring as CFO Effective June 30, 2025

Claire K. Spencer Appointed as New CFO Effective Upon Mr. Demarest’s Retirement

GONZALES, La., June 16, 2025 (GLOBE NEWSWIRE) -- Crown Crafts, Inc. (NASDAQ: CRWS) (the “Company”) today announced that Claire K. Spencer has joined the Company as Vice President and, effective upon Craig J. Demarest’s retirement as the Company’s Chief Financial Officer on June 30, 2025, has been appointed Chief Financial Officer of the Company.

Olivia Elliott, President and Chief Executive Officer, stated, “I am excited to welcome Claire to Crown Crafts as our next Chief Financial Officer. I look forward to working closely with Claire as we continue to execute our long-term strategic plan and pursue growth opportunities across our brand portfolio. I would also like to thank Craig for his leadership as our Chief Financial Officer over the past four years and wish him the very best in his retirement.”

Claire K. Spencer, Vice President and Chief Financial Officer effective June 30, 2025, said, “I am honored to join Crown Crafts and have the opportunity to lead the finance and accounting team to support the Company’s financial and strategic goals and drive shareholder value.”

About Claire K. Spencer
Ms. Spencer served from July 30, 2021 through June 2, 2025 as Director of SEC Reporting for H&E Equipment Services, Inc., a Nasdaq listed equipment rental company (“H&E”), where she was responsible for managing all aspects of H&E’s Securities and Exchange Commission filings and compliance. From July 2019 to July 2021, Ms. Spencer served as H&E’s SEC Reporting Manager. Prior to joining H&E, she was the Financial Reporting Manager at HRI Properties, LLC, a real estate development company, from May 2017 to June 2019 and served in various audit roles at KPMG, LLP from October 2013 to May 2017. Ms. Spencer earned a Master of Science in Accounting and a Bachelor of Business Administration in Accounting from Southern Methodist University. She is a member of the American Institute of Certified Public Accountants as well as both the Texas and Louisiana Society of Certified Public Accountants.