Thomas A. Dieterich Appointed Chief Executive Officer of River Oaks Furniture

Furniture World Magazine

River Oaks Furniture, Inc. today announced the appointment of senior furniture executive Thomas A, Dieterich as chief executive officer. Mr. Dieterich succeeds Len York, a principal of turnaround and corporate renewal firm OSNOS & Company, who had been acting chief executive of the designer and manufacturer of upholstered furniture since March 1998. Mr. Dieterich, a 25-year veteran of the furniture industry, will be responsible for River Oaks' day-to-day operations, working closely with the board of directors as the Company completes the strategic restructuring of its business and operations early in 1999. "Tom Dieterich brings to River Oaks a wealth of solid experience in all aspects of the furniture business -- retail, Manufacturing and selling," Mr., York said. "Within the past few months, the Company has made significant progress in streamlining its operations, reducing operating costs and enhancing operating efficiencies, and we are extremely pleased to take advantage of Tom's expertise and experience as River Oaks moves forward." Mr. Dieterich joins River Oaks from Ashley Furniture Industries, where as a vice president of sales for its upholstery division he maintained an extensive sales organization and developed merchandising and marketing business plans, Before that, he was a partner in Southern Traditions Furniture, where he and his partners opened a new factory in Siler City, North Carolina and established a national and international sales force. He worked on merchandise selection., major account structure, product pricing and other key aspects of the business. He also was sales manager with Jackson Manufacturing Companies, was a founder and sales executive for The Gentry Gallery and served as an independent sales representative for various companies including Benchcraft, Inc. He gained retail experience as general manager of Lack's Valley Stores, a Southern Texas retail furniture chain. I am excited by the opportunities for River Oaks as the Company moves toward completion of its reorganization plan and successful emergence from Chapter 11," Mr. Dieterich said. "I look forward to building on strategic initiatives now in place for improving customer service, enhancing delivery capabilities and product quality, and working with the board and management to make a revitalized River Oaks a reality." Founded in 1987, River Oaks designs and manufactures leather and upholstered furniture under the brand names River Oaks®, River Crest ™ and Gaines ™, River Oaks filed a voluntary petition under Chapter 11 of the Bankruptcy Code on March 3, 1998. It subsequently retained New York- and Charlotte, N.C-based OSNOS & Company to assist in its restructuring.