Havertys Announces CEO Leadership Transition
Havertys (NYSE:HVT) announced a planned CEO transition effective January 1, 2025. Clarence H. Smith will retire as CEO and transition to executive chairman, while current president Steven G. Burdette will become president and CEO and join the board of directors. Burdette, who joined Havertys in 1983 and was appointed president in 2021, will become only the 7th CEO in the company's 139-year history. Under Smith's leadership since 2003, Havertys transformed from a retailer of other companies' merchandise into a specialty branded retailer selling exclusively Havertys brand furniture, successfully navigating through the 2007 financial crisis and COVID-19 pandemic.
Havertys (NYSE:HVT) ha annunciato una transizione programmata per il CEO che avrà effetto dal 1 gennaio 2025. Clarence H. Smith si ritirerà come CEO e passerà a presidente esecutivo, mentre l'attuale presidente Steven G. Burdette diventerà presidente e CEO e entrerà nel consiglio di amministrazione. Burdette, che è entrato in Havertys nel 1983 ed è stato nominato presidente nel 2021, diventerà solo il 7° CEO nella storia del'azienda, che dura da 139 anni. Sotto la guida di Smith dal 2003, Havertys si è trasformato da rivenditore di merci di altre aziende a rivenditore specializzato che vende esclusivamente mobili a marchio Havertys, navigando con successo attraverso la crisi finanziaria del 2007 e la pandemia di COVID-19.
Havertys (NYSE:HVT) anunció una transición planificada de CEO que entrará en vigor el 1 de enero de 2025. Clarence H. Smith se retirará como CEO y pasará a ser presidente ejecutivo, mientras que el actual presidente Steven G. Burdette se convertirá en presidente y CEO, y se unirá a la junta directiva. Burdette, quien se unió a Havertys en 1983 y fue nombrado presidente en 2021, será solo el 7º CEO en los 139 años de historia de la empresa. Bajo el liderazgo de Smith desde 2003, Havertys se transformó de un minorista de mercancías de otras compañías en un minorista especializado que vende exclusivamente muebles de la marca Havertys, navegando con éxito a través de la crisis financiera de 2007 y la pandemia de COVID-19.
Havertys (NYSE:HVT)는 2025년 1월 1일부터 효력이 발생하는 CEO 전환 계획을 발표했습니다. Clarence H. Smith는 CEO로서 퇴임하고 집행 의장으로 전환하며, 현재의 사장인 Steven G. Burdette가 사장 겸 CEO가 되어 이사회에 합류합니다. Burdette는 1983년 Havertys에 입사하여 2021년에 사장으로 임명되었으며, 회사의 139년 역사에서 7번째 CEO가 됩니다. Smith의 리더십 아래 2003년부터 Havertys는 다른 회사의 상품 소매업체에서 Havertys 브랜드 가구만을 독점적으로 판매하는 전문 소매업체로 변모하였으며, 2007년 금융 위기와 COVID-19 팬데믹을 성공적으로 헤쳐나갔습니다.
Havertys (NYSE:HVT) a annoncé une transition planifiée pour le poste de PDG prenant effet le 1er janvier 2025. Clarence H. Smith prendra sa retraite en tant que PDG et deviendra président exécutif, tandis que l'actuel président Steven G. Burdette deviendra président et PDG et rejoindra le conseil d'administration. Burdette, qui a rejoint Havertys en 1983 et a été nommé président en 2021, sera seulement le 7ème PDG dans l'histoire de l'entreprise de 139 ans. Sous la direction de Smith depuis 2003, Havertys s'est transformé d'un détaillant de marchandises d'autres entreprises en un détaillant spécialisé vendant exclusivement des meubles sous la marque Havertys, naviguant avec succès à travers la crise financière de 2007 et la pandémie de COVID-19.
Havertys (NYSE:HVT) hat einen geplanten CEO-Wechsel bekannt gegeben, der am 1. Januar 2025 wirksam wird. Clarence H. Smith wird als CEO zurücktreten und zum Executive Chairman wechseln, während der aktuelle Präsident Steven G. Burdette zum Präsidenten und CEO ernannt wird und dem Vorstand beitritt. Burdette, der 1983 zu Havertys kam und 2021 zum Präsidenten ernannt wurde, wird der 7. CEO in der 139-jährigen Geschichte des Unternehmens sein. Unter Smiths Führung seit 2003 hat sich Havertys von einem Einzelhändler für Waren anderer Unternehmen zu einem spezialisierten Einzelhändler entwickelt, der ausschließlich Möbel der Marke Havertys verkauft und erfolgreich durch die Finanzkrise 2007 und die COVID-19-Pandemie navigierte.
- Planned and structured leadership transition indicating organizational stability
- New CEO brings 40+ years of company experience across multiple operational areas
- Retiring CEO remains as executive chairman, ensuring continuity of leadership
- Company successfully transformed into an exclusive branded retailer under current leadership
- None.
Clarence H. Smith to Retire as CEO; Will Remain as Executive Chairman
Steven G. Burdette to Assume CEO Position and Become Director
ATLANTA, GA / ACCESSWIRE / November 12, 2024 / HAVERTYS (NYSE:HVT)(NYSE:HVTA) today announced that Clarence H. Smith, CEO and chairman of the board, has chosen to retire from his position as CEO and transition to executive chairman of the board, effective January 1, 2025. At that time, Steven G. Burdette, currently president, will succeed Smith as president and CEO of Havertys and will serve as a member of the board of directors.
Clarence Smith and Steve Burdette
"Today's announcement follows a planned transition to select the next CEO to lead Havertys," said Smith. "Steve has been an invaluable member of my leadership team, delivering on strategic initiatives and operational excellence during turbulent times. With this transition, Steve becomes only the 7th CEO in the 139-year history of Havertys. His deep knowledge of the industry, passion for the company and its culture, and the respect of an experienced team make Steve the right leader to move the company forward. I am grateful to every team member for their dedication to Havertys' success and their honoring of the legacy of our company's founders."
"The selection of Steve as CEO is the result of an established and thoughtful process to ensure a seamless leadership transition that focuses on strength and growth," commented Tom Hough, lead independent director of Havertys' board of directors. "We are pleased Clarence will assume his role as executive chairman, providing insights to the company's strategic directions from his more than 50 years with Havertys and outstanding leadership as CEO since 2003. Under Clarence's guidance the company weathered two great challenges, the financial crisis which began in late 2007 and the global COVID-19 pandemic. Clarence evolved the company's vision and transformed Havertys from a retailer of other company's merchandise into a specialty branded retailer selling exclusively the Havertys brand of quality furniture."
Burdette said, "I am excited and appreciate the trust and confidence the board has shown in me to lead this great company. We have a remarkable legacy and a strong platform from which to grow. I look forward to continuing Havertys' tradition of serving our customers, suppliers, team members, and shareholders with integrity and accountability."
Burdette, 63, was appointed president in 2021. He began his career with Havertys as a manager trainee in Tampa, Fl in 1983 and has held responsibilities for all aspects of the business including store management, distribution, operations, merchandising, and marketing. He was named executive vice president, stores in 2008 and executive vice president, operations in 2017 prior to his appointment as president. Burdette earned a Bachelor of Business Administration in Finance from the University of Georgia.
About Havertys
Havertys (NYSE:HVT)(NYSE:HVTA), established in 1885, is a full-service home furnishings retailer with 127 showrooms in 17 states in the Southern and Midwestern regions providing its customers with a wide selection of quality merchandise in middle to upper-middle price ranges. Additional information is available on the Company's website at www.havertys.com.
Contact:
Havertys 404-443-2900
Jenny Hill Parker
SVP, finance and
Corporate Secretary
SOURCE: Haverty Furniture Companies, Inc.
View the original press release on accesswire.com
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