Berkline/Benchcraft, LLC Adds New Chief Financial Officer

Furniture World Magazine

Berkline Benchcraft Holding Inc., a privately held company that is a leading supplier of residential upholstered motion and stationary furniture in the U.S., announced today that Steven M. Smith has joined the company as chief financial officer. He replaces Mark A. Roberts, a managing director of Alvarez & Marsal, LLC who assumed these duties in July 2006 and remains with the company in a senior advisory capacity. The announcement of Mr. Smith as CFO marks the culmination of a reorganization of BBH's executive management team that began in July, when the company retained Alvarez & Marsal to assist in its operational reorganization. "We are delighted to have Steven Smith join our management team," stated Bill Wittenberg, president and CEO of Berkline Benchcraft. "Steven brings many years of experience in consumer products, manufacturing, distribution, and retail. He also brings an international expertise at a time when our industry is undergoing accelerated change as more and more of our operations are being conducted in a global environment." "We now have in place one of the strongest executive management teams in the furniture industry that will drive the implementation of our strategic business plan," Mr. Wittenberg said. Prior to joining Berkline Benchcraft, Mr. Smith was a financial executive for MTD Products, Inc., a privately held consumer products company based in Ohio. Mr. Smith's responsibilities included chief financial responsibility for MTD's international business unit as well as the company's worldwide corporate and strategic development operations. In addition, he redesigned management reporting and provided leadership focused on key financial and operational measures. Mr. Smith holds a B.S. degree from Valparaiso University and an M.B.A. in Finance and International Business from Baldwin-Wallace College. His professional credentials include the Certified Public Accountant (CPA), Certified Management Accountant (CMA), and Certified Financial Manager (CFM) designations. He joins Jeff Hale and Larry Smith, whose appointments as executive vice president and COO and senior vice president of sales and marketing, respectively, were announced earlier. Together they form an executive management team that also includes, in addition to Mr. Wittenberg, Dal Eckard, executive vice president and chief marketing officer, and Dennis Carper, senior vice president of human resources. About the Company: Berkline Benchcraft employs approximately 3,100 in its manufacturing facilities in Morristown, Tennessee and Blue Mountain, Mississippi. It also maintains manufacturing facilities in Toronto and Ville D'Anjou, Canada and sourcing operations in China. The company was founded in 1937 and has had several changes in ownership since 1988. In 2002 it was acquired along with Benchcraft by Code Hennessy & Simmons LLC and Berkline management. An attempt at an IPO was abandoned in 2005.