American Furniture Manufacturing Names New CEO Company To Be Led By Industry Veteran J. Allen (Al) Wiygul
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.