ATLANTA (Reuters) – Furniture Brands International Inc. (NYSE:FBN – News) said on Monday that Harvey Dondero resigned as president and chief executive of its Broyhill Furniture Industries unit, a mid-priced brand that has had sales weakness in recent quarters.
\n
\n
\n“In resigning Harvey cited concerns regarding reporting responsibilities, authority and duties,” W.G. “Mickey” Holliman, chairman and CEO of Furniture Brands, said in a statement.<\/p>\n
Dondero had headed Broyhill since April 2012.<\/p>\n
Tom Foy, Furniture Brands president and chief operating officer, will take over the day-to-day operations at Broyhill on an interim basis. Foy has been overseeing operations at Lane, another of the company’s brands, since mid-2012.<\/p>\n
St. Louis-based Furniture Brands has been closing plants and merging back-office functions at its brands as it looks to source more products overseas. Earlier this month, the company announced that a Broyhill wood furniture plant in Lenoir, North Carolina, would shut down.<\/p>\n
The company has cited sales weakness at Broyhill in several recent quarterly reports. Earlier this year, Furniture Brands told analysts that negative year-over-year trends at Broyhill should be reversed as new products begin to ship.<\/p>\n
Furniture Brands also makes Drexel Heritage, Henredon, Maitland-Smith and Thomasville brands. Its shares fell 6 cents to $21.59 on the New York Stock Exchange.<\/p>\n","protected":false},"excerpt":{"rendered":"
ATLANTA (Reuters) – Furniture Brands International Inc. (NYSE:FBN – News) said on Monday that Harvey Dondero resigned as president and chief executive of its Broyhill Furniture Industries unit, a mid-priced brand that has had sales weakness in recent quarters.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-1034","post","type-post","status-publish","format-standard","hentry","category-furniture-world-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/1034","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/comments?post=1034"}],"version-history":[{"count":0,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/1034\/revisions"}],"wp:attachment":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/media?parent=1034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/categories?post=1034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/tags?post=1034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}