This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Havertys Announces Clarence H. Ridley, Chairman, Will Retire In May 2010 After Serving On The Company's Board Of Directors For 31 Years

ATLANTA, Feb. 17 /PRNewswire-FirstCall/ --  HAVERTY FURNITURE COMPANIES, INC. (NYSE: HVT and HVT.A) today announced Clarence H. Ridley will retire from his position as non-executive chairman and as a member of the board at the May 2010 annual shareholders' meeting and then have the title chairman emeritus.  He has served as a Havertys director since 1979.  Mr. Ridley was a partner at the law firm of King & Spalding from 1977 until he retired in 2000.  He was elected Havertys' chairman in 2001 upon the retirement of Rawson Haverty.  At that time, the company was undergoing a change in its distribution system and expanding into new markets.  Mr. Ridley helped provide continuity of leadership following the retirement in 2002 of the chief executive officer and the election of Clarence H. Smith, then president and chief operating officer.  Mr. Ridley has helped guide the company through a tumultuous period for the furniture industry and both high-growth and recessionary cycles.

The Board of Directors intends to appoint L. Phillip Humann as non-executive chairman upon his re-election at the company's 2010 annual shareholders' meeting.  Mr. Humann has served on Havertys' board since 1992 and as a member of the Executive Committee since 1995.  He is currently a member of the Compensation Committee and has previously served on the Audit Committee.  Mr. Humann was chairman of the board of SunTrust Banks, Inc, a position he held for ten years.  He retired in April 2009 and currently is a director of Coca Cola Enterprises Inc. and Equifax, Inc.  

Mr. Ridley commented, "It has been an honor to be a part of this great company for the past 31 years.  Havertys is celebrating its 125th year, a testament of the leadership that has come before and that follows.  There have been seismic changes in this industry and it has been a privilege to work with a management team and a board to see the company through the firestorm.  I could not be more proud of our people and their commitment to delivering great products, excellent customer service and enhancing shareholder value.  I am confident that Havertys will thrive for another 125 years."

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs