Philip D. Haney, Appointed President and CEO, Lexington Home Brands

Furniture World News

Lexington Home Brands announced that it has appointed Mr. Philip D. Haney President and CEO, effective immediately. Lexington, an affiliate of Sun Capital Partners, Inc. ("Sun Capital"), a leading private investment firm specializing in leveraged buyouts and investments in market-leading companies, is a leading marketer and manufacturer of upscale, branded home furnishings. Mr. Haney will replace Mr. Asher Lepkin who has been serving as the Interim CEO since June 2006 and will remain in a consulting capacity to facilitate the transition. Mr. Haney has more than 30-years experience in executive sales and marketing positions in the luxury home furnishings industry including Karastan (and Karastan-Bigelow and Bigelow-Sanford, now divisions of Mohawk Industries), the leading producer and distributor of flooring worldwide, where he served as President of Karastan Rug and Home and as Senior Vice President of Marketing and Sales. Leaving Karastan in 2002, Mr. Haney served until present as Executive Vice President, Marketing and Sales with Stanley Furniture Company, a leading manufacturer of wood furniture. Chris T. Metz, Managing Director, Sun Capital Partners, Inc., stated, "We are pleased to appoint Philip D. Haney as Lexington's new President and CEO. Phil has had an extensive marketing, sales, and general management career in luxury home furnishings and brings the right blend of experience to Lexington to further our growth strategy and accentuate our focus on strategic objectives and core competencies. He is uniquely qualified to lead the management team in repositioning Lexington Home Brands, which represents the largest, most diversified family of home furnishings brands in the United States." Phil Haney, President and CEO, Lexington Home Brands, added, "I am very pleased to be appointed the President and CEO of Lexington Home Brands. As the industry's style leader, Lexington takes great pride in developing brands that represent distinct and diverse styles of living. Just as there are no two consumer tastes or homes exactly alike, each of our brands offers its own distinct look, style, and value. I look forward to working with our management team in growing and strengthening Lexington's creative product leadership and customer service and building greater enterprise value in an ever-challenging, marketplace." About Lexington Home Brands: Founded in 1901, Lexington Furniture Industries, Inc. ("Lexington"), d/b/a Lexington Home Brands, is a leading marketer and manufacturer of upscale branded home furnishings. Lexington's product lines include bedroom, formal and casual dining, home entertainment, home office, youth, upholstered and wicker furniture in a wide range of styles. Its portfolio consists of some of the best consumer brands in the industry, including Bob Timberlake, Tommy Bahama, Nautica Home, Woolrich, Liz Claiborne, and Palmer Home, as well as house brands Lexington and Henry Link Trading Company. Lexington distributes its products through an extensive and ever-growing group of Lexington Home Retailers, independent home furnishings retailers, and designer showrooms in the United States and abroad. Lexington was acquired by an affiliate of Sun Capital Partners in April 2002. About Sun Capital Partners, Inc.: Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in market-leading companies that can benefit from its in-house operating professionals and experience. Sun Capital affiliates have invested in and managed more than 125 companies worldwide with combined sales in excess of $30.0 billion since Sun Capital's inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles, New York, London, and Shenzhen, China.