Fred Starr to Lead Natuzzi Americas

Furniture World Magazine

Industrie Natuzzi S.p.A. (NYSE: NTZ) announced that Frederick B. Starr would succeed Dino Lorusso as President and Chief Executive Officer, Natuzzi Americas the North American subsidiary of the Group. Lorusso will assume the position of Sales and Marketing Director for Scandinavia, UK, EIRE, Germany, Austria, Benelux, Africa and the Middle East. Lorusso has served as President, Natuzzi Americas for the past 18 months, leading the Company to substantially higher sales levels and a stronger market position. Due to family needs, Lorusso requested re-assignment to Italy and now assumes his new position within the home office. Pasquale Natuzzi, Chairman and CEO of the Group said, "Dino has served us extremely well in our very important North American market. We thank him for his many contributions and welcome him to his new position." Since retiring in 1998, after 16 years as President and CEO, Thomasville Furniture Industries, Starr has been involved with several business and civic efforts. Most recently, he has worked with Style Craft Metal Beds as part owner and adviser. Additionally, he was appointed by Governor Hunt to lead an effort to bring Major League Baseball to North Carolina, has served as President, Piedmont Triad Partnership, and is currently on the North Carolina Environmental Management Commission. Natuzzi added, "Fred and I have found common understanding and agreement on Natuzzi Americas' future challenges and opportunities. With his experience and accomplishments, we believe Fred is ideally suited to lead Natuzzi Americas in the building and implementation of our strategic goals." Starr will join Natuzzi Americas in High Point, effective October 1. Starr said, "Since retiring from Thomasville, I've tried to support the furniture industry through the application of new technologies and involvement in governmental activities. This has allowed me to stay close and observe the impact of broad and significant change. I'm extremely pleased to join Natuzzi, a remarkably successful company. There are huge opportunities ahead, and we intend to go after them." Founded in 1959 and chaired by Pasquale Natuzzi, the Natuzzi Group designs, manufactures and sells contemporary residential upholstered furniture. In addition to being Italy's largest furniture manufacturer and ISO 9000 certified, Natuzzi is the global leader in leather upholstery, exporting its high-quality furniture to 123 markets on 5 continents. Product and design excellence has enabled Natuzzi to maintain leading market shares in North America and Europe. In Italy, Natuzzi sells its products through the popular Divani & Divani chain of 110 stores, which are franchised by the Company. Natuzzi's holding Company, Industrie Natuzzi S.p.A., was listed on the New York Stock Exchange on May 13, 1993.