ECRU, Miss., Nov. 8, 2012 /PRNewswire/ -- American
Furniture Manufacturing, Inc. ("AFM" or the "Company") announced
today it has appointed J. Allen (Al)
Wiygul as Chief Executive Officer (CEO), effective
immediately. He will succeed Mike
Thomas, who will retire at the end of the year as
planned.
Mr. Wiygul has approximately 40 years of experience in the
furniture industry, including 20 years at the senior management
level. Previously, he served as President of Bauhaus USA, a division of La-Z-Boy, Inc., for six
years after joining the company in 2002 as Vice President of
Operations. During his 10-year tenure at Bauhaus USA, Mr. Wiygul led the development of new
strategic partnerships and was responsible for meeting the
company's sales and marketing objectives. From 1996 to 2002, he was
Vice President of Operations at Berkline Corp. Mr. Wiygul also has
held various senior management positions at Bassett Furniture,
Stratford Home Furniture and Washington Furniture.
"We are proud to welcome a professional of Al's caliber to lead
AFM," said Alan Offenberg, CEO of
Compass Diversified Holdings and Chairman of American Furniture.
"Al brings to AFM significant experience in all aspects of the
furniture business, which will serve our Company well as we
continue to operate in a challenging market environment. We are
confident his successful track record and proven leadership will
help advance AFM's mission to provide customers with quality
products that are made in the USA
and ensure the Company's long-term prosperity. In meeting these
critical objectives, Al has the full support of AFM's entire Board
of Directors, current management team and sales force."
Mr. Offenberg added, "We thank Mike for his numerous
contributions and exemplary service over the past eight years, and
are pleased he will remain available to consult with the Company
through the end of the year to ensure a smooth transition."
"I am excited to join AFM as the Company's new CEO," said Mr.
Wiygul. "AFM has a strong infrastructure in place combined with a
flexible and cost-efficient business model that provides the
opportunity for attractive growth as market conditions improve. I
look forward to working closely with the entire team of dedicated
employees at AFM in order to build upon the Company's past
achievements and drive future success."
Mr. Wiygul, 65, is a current director for the Franklin Furniture
Institute and is a retired major of the Mississippi Army National
Guard. He attended the University of
Mississippi and received a BS in Business Administration
from Southwest University.
About American Furniture Manufacturing
Founded in 1998
and headquartered in Ecru,
Mississippi, American Furniture is a leading U.S.
manufacturer of upholstered furniture with an exclusive focus on
the promotional segment of the furniture industry. The Company
offers a broad product line of stationary and motion furniture,
including sofas, loveseats, sectionals, recliners and complementary
product, and is able to ship any product in its line within 48
hours of receiving an order. For more information, please visit the
Company's website at www.americanfurn.net.
American Furniture is a subsidiary of Compass Diversified
Holdings (NYSE: CODI), an owner of leading middle market
businesses. For more information on CODI, please visit
www.compassdiversifiedholdings.com.
This press release may contain certain forward-looking
statements, including statements with regard to the future
performance of the Company. Words such as "believes," "expects,"
"projects," and "future" or similar expressions, are intended to
identify forward-looking statements. These forward-looking
statements are subject to the inherent uncertainties in predicting
future results and conditions. Certain factors could cause actual
results to differ materially from those projected in these
forward-looking statements, and some of these factors are
enumerated in the risk factor discussion in the Form 10-K filed by
CODI with the Securities and Exchange Commission for the year ended
December 31, 2011 and other filings
with the Securities and Exchange Commission. CODI undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
SOURCE American Furniture Manufacturing, Inc.