England to Retire From La-Z-Boy; Sawyer Named Successor

Furniture World Magazine

La-Z-Boy Incorporated announced that Rodney England, Corporate Senior Vice President, President of its England, Inc. subsidiary and President of its Non- Branded Upholstery division, will retire from the company in February 2008. La-Z-Boy named Otis Sawyer, currently Senior Vice President Corporate Operations, as England's successor. An industry veteran, England has had a career spanning 43 years, beginning as a teenager working the delivery dock of his grandfather's store. In 1987, he was named President of England and, in 1995, the company was acquired by La-Z-Boy Incorporated. England Furniture is best known in the industry for pioneering quick delivery of custom furniture through its proprietary transportation system. England was named Senior Vice President of La-Z-Boy in 2003. England serves on the Board of Directors of the American Home Furnishings Alliance and the American Furniture Hall of Fame. A life-long resident of Tazewell, Tennessee, England also served on the Board of the Claiborne County Healthcare Foundation and the Presidents Board of Walters State Community College. He also served four years as Claiborne County's Commissioner and Budget Chairman. Kurt Darrow, President and Chief Executive Officer of La-Z-Boy Incorporated, said, "It is with mixed emotion that we announce Rodney's retirement. While I am disappointed to see Rodney retire, we understand his desire to spend more time with his family while pursuing his personal interests. Rodney has had an accomplished career full of successes. He took a small family company and built it into a significant upholstery business within the industry. As a senior executive officer of La-Z-Boy Incorporated, he was extremely dedicated and made a great contribution to our company over the years. He will be missed by both his colleagues at La-Z-Boy and by individuals throughout the furniture industry as a whole." Darrow added, "At the same time, I am pleased Otis will succeed Rod as President of England. Additionally, he will have oversight responsibilities for La-Z-Boy's Bauhaus operation. With succession planning of paramount importance to our organization, Otis will transition easily into his new role and serve the company well. He is a seasoned professional with vast experience in a multitude of areas. Earlier in his career, he served for 14 years as Senior Vice President of Finance of England, giving him familiarity with the company's unique operations and its niche in the marketplace, all of which will enable him to be an excellent leader. Additionally, he has significant expertise in a supply chain management, finance, information technology, and logistics." Before being named La-Z-Boy's Senior Vice President Corporate Operations in May 2006, Sawyer served as the company's Chief Information Officer for two years. Prior to that, he was with England, where he held a series of increasingly responsible positions and, before that, he was Controller at Councill Companies and was with Hanes Incorporated earlier in his career. He holds a B.A. in Accounting from Guilford College, an MBA from Wake Forest University and is a Certified Public Accountant. Background Information: La-Z-Boy Incorporated is one of the world's leading residential furniture producers, distributors and retailers, marketing furniture for every room of the home. The La-Z-Boy Upholstery Group companies are Bauhaus, England, La-Z- Boy and La-Z-Boy, U.K. The La-Z-Boy Casegoods Group companies are American Drew, Hammary, Kincaid and Lea. The La-Z-Boy Retail Group consists of 69 stores operating in eight metropolitan markets. The corporation's proprietary distribution network is dedicated exclusively to selling La-Z-Boy Incorporated products and brands, and includes 333 stand-alone La-Z-Boy Furniture Galleries(R) stores and 281 La-Z-Boy In- Store Galleries, in addition to in-store gallery programs at the company's Kincaid, England and Lea operating units. According to industry trade publication In Furniture, the La-Z-Boy Furniture Galleries retail network is North America's largest single-brand furniture retailer. Additional information is available at http://www.la-z-boy.com/.