Mr. Smith stated, "Havertys has benefited significantly from Clancy's contributions over the years. As chief executive officer, I have greatly appreciated his counsel and leadership. He is retiring as the strategies of cost containment and margin discipline are producing positive results and we gain market share. Our shareholders have an experienced and knowledgeable board and I look forward to continuing to work with Phil Humann in his new role as non-executive chairman."Mr. Humann remarked, "Clancy is leaving the company with a very skilled management team that continues to hold the values which have kept the company strong over its history. We appreciate his dedication to Havertys and many years of service as a director and chairman."
Havertys Announces Clarence H. Ridley, Chairman, Will Retire In May 2010 After Serving On The Company's Board Of Directors For 31 Years
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