Knoll CEO Andrew Cogan Elected To Interface Board Of Directors
ATLANTA, Jan. 9, 2013 /PRNewswire/ -- Interface, Inc. (NASDAQ: IFSIA), the world's largest manufacturer of modular carpet, today announced the election of Andrew Cogan to its board of directors. This addition brings the total members of the Company's board of directors to 10, of which 9 are independent directors. Mr. Cogan, age 50, is chief executive officer of Knoll, Inc., a leading designer and manufacturer of branded office furniture products and textiles recognized for innovation and modern design. He assumed the role of CEO at Knoll in April 2001, after serving in several leadership positions in the company, including chief operating officer and executive vice president for marketing and product development. Mr. Cogan is president of the board of directors for the Chinati Foundation, a renowned contemporary art museum in Marfa, Texas, and has been a Director of American Woodmark Corp. since March 3, 2009. Mr. Cogan holds an undergraduate degree from Harvard College.
Daniel T. Hendrix, chairman and CEO of Interface, commented, "We are very pleased to welcome Andrew to Interface's board of directors. Knoll and Interface share a commitment to sustainably designed products with a modern aesthetic. Andrew's knowledge of Knoll's design heritage, combined with his leadership in marketing and product development, will be beneficial to Interface. We look forward to his contributions."
Interface, Inc. is the world's largest manufacturer of modular carpet, which it markets under the Interface, FLOR, and Heuga brands. The Company is committed to the goal of sustainability and doing business in ways that minimize the impact on the environment while enhancing shareholder value.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 :Except for historical information contained herein, the other matters set forth in this news release are forward‑looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including risks and uncertainties associated with economic conditions in the commercial interiors industry as well as the risks and uncertainties discussed under the heading "Risk Factors" included in Item 1A of the Company 's Annual Report on Form 10-K for the fiscal year ended January 1, 2012, which discussion is incorporated herein by this reference, including, but not limited to, the discussion of specific risks and uncertainties under the headings "The ongoing worldwide financial and credit crisis could have a material adverse effect on our business, financial condition and results of operations," "Sales of our principal products have been and may continue to be affected by adverse economic cycles in the renovation and construction of commercial and institutional buildings," " We compete with a large number of manufacturers in the highly competitive commercial floorcovering products market, and some of these competitors have greater financial resources than we do," "Our success depends significantly upon the efforts, abilities and continued service of our senior management executives and our principal design consultant, and our loss of any of them could affect us adversely," "Our substantial international operations are subject to various political, economic and other uncertainties that could adversely affect our business results, including by restrictive taxation or other government regulation and by foreign currency fluctuations," "Concerns regarding the European sovereign debt crisis and market perceptions about the instability of the euro, the potential re-introduction of individual currencies within the Eurozone, or the potential dissolution of the euro entirely, could adversely affect our business, results of operations or financial condition," "Large increases in the cost of petroleum-based raw materials could adversely affect us if we are unable to pass these cost increases through to our customers," "Unanticipated termination or interruption of any of our arrangements with our primary third party suppliers of synthetic fiber could have a material adverse effect on us," "We have a significant amount of indebtedness, which could have important negative consequences to us," "The market price of our common stock has been volatile and the value of your investment may decline," "Our earnings in a future period could be adversely affected by non-cash adjustments to goodwill, if a future test of goodwill assets indicates a material impairment of those assets," and "Our Rights Agreement could discourage tender offers or other transactions for our stock that could result in shareholders receiving a premium over the market price for our stock." Any forward-looking statements are made pursuant to the Private Securities Litigation Reform Act of 1995 and, as such, speak only as of the date made. The Company assumes no responsibility to update or revise forward-looking statements made in this press release and cautions readers not to place undue reliance on any such forward-looking statements.
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