La-Z-Boy Incorporated Announces Retirement Of President Of Hammary Furniture - New President Appointed

Furniture World Magazine

La-Z-Boy Incorporated announced the retirement of Fred A. Preddy, Jr., president of Hammary Furniture Company and a 37 year veteran of the furniture industry, effective May 11, 2001. Replacing Preddy as president at that time will be John Labarowski, currently senior vice president of sales and marketing with Hammary. Preddy became president of Hammary in 1990, after having held the position of vice president of marketing of La-Z-Boy Chair Company. During that time, Preddy executed the opening of the original La-Z-Boy Furniture Galleries store in Las Vegas. "Fred has made significant and substantial contributions to this organization during his time with us," said Gerald L. Kiser, president and chief operating officer of La-Z-Boy Incorporated. "He has done a fine job running the company. We are grateful for all that he has brought to Hammary." During his time with Hammary, Preddy served as co-chairman of the Home Furnishings Council and as president and chairman of the board of the American Furniture Manufacturers Association. Labarowski has spent 36 years in the furniture industry. Immediately prior to joining Hammary, he held the position of vice president of sales and merchandising at Berkline. Before that, Labarowski was vice president of sales and national accounts at Simmons. "John has the right experience and vision for this leadership role with Hammary," said Kiser. "We are confident that the company will grow and prosper under his direction." Headquartered in Monroe, Mich., La-Z-Boy Incorporated is the nation's largest manufacturer of upholstered furniture and the world's leading producer of reclining chairs. With annual sales in excess of $2 billion, the company employs approximately 21,000 people, has 57 manufacturing facilities in the United States, Canada and Europe, and operates through eleven independent divisions: La-Z-Boy Residential, La-Z-Boy Business Furniture Group, Hammary Furniture Company, Kincaid Furniture Company, Alexvale Furniture, Inc., England/Corsair, Inc., La-Z-Boy Canada, Centurion Furniture PLC, Sam Moore Furniture Industries, Bauhaus USA Inc. and LADD Furniture, Inc. Shares of La-Z-Boy Incorporated common stock are traded on the New York Stock Exchange and the Pacific Stock Exchange under the symbol LZB.