— Furniture Today,
DURHAM, Ontario — Solid-wood bedroom producer Durham Furniture has hired industry veteran Michael Pitman as president and CEO, succeeding Keith McSpurren, who has been CEO for the past 18 months.


Pitman most recently was vice president/division sales for manufacturer and importer Schnadig, and earlier held sales and marketing positions with Lexington Home Brands. He has been in the industry for 25 years. He assumes his Durham post Oct. 2.

“He possesses a strong understanding of the Canadian and U.S. markets, coupled with a reputation for integrity and strategic thinking,” said McSpurren.

McSpurren will remain on Durham’s board and return to a more active role with Flagstone Capital, the Toronto-based private equity fund he helped establish in 2001. Flagstone has an equity stake in Durham.

He said his mandate as CEO was to lead the transition of Durham from the hard-driving entrepreneurial company it was during most of the 1990s into a mature, stable, growing business.

“Although there are significant challenges ahead for all companies in our industry, Durham’s largest structural changes are behind us,” he said. “Now that the turnaround is complete, it’s time to execute the plan.”

The company said that in the past 18 months it has moved to a lean manufacturing platform, assembled a new senior management team, improved the profitability of its retail partners by reducing their inventory, and reduced delivery times on virtually all orders to six weeks.

Durham also has expanded its sales network, negotiated new arrangements with its financial partners and launched a second brand called Orville & Mead.

“The last piece of the transition plan was to recruit a driven, open-minded leader with a significant track record in helping to build every business he has been involved in,” McSpurren said. “We needed to find someone willing to make a long-term commitment to Durham that matches the loyalty and dedication of our own employees, sales representatives and retail partners.”