La-Z-Boy Welcomes Stitch Fix CEO Matt Baer to Its Board
Exciting Changes at La-Z-Boy Incorporated
La-Z-Boy Incorporated (NYSE: LZB), a recognized leader in residential furniture, has made a significant move by appointing Matt Baer, the current CEO of Stitch Fix, to its Board of Directors. This strategic addition will take effect on January 1, 2025, bringing the board's total members to eleven.
Meet Matt Baer: A Proven Leader
Matt Baer lends impressive credentials to the La-Z-Boy board. His expertise is rooted in substantial retail experience, focusing on customer-centric strategies that enhance brand value. At Stitch Fix, where he drives transformative initiatives, Baer’s influence has been palpable. Prior to his tenure there, he was the Chief Customer and Digital Officer at Macy’s, leading that retail giant's digital transformation. His role at Walmart as Vice President of eCommerce further solidifies his reputation for driving digital growth in major retail.
Strategic Vision for Growth
President and CEO of La-Z-Boy, Melinda Whittington, expressed her enthusiasm about Baer’s appointment, highlighting his proven leadership in retail transformation and innovation. She emphasized that Baer’s involvement will greatly benefit the execution of La-Z-Boy’s Century Vision growth strategy, aimed at propelling the company forward through the next century.
The Century Vision Growth Strategy
This comprehensive strategy is not just about expanding market share but also about fostering a culture of innovation within the company. By integrating insights from leaders like Baer, La-Z-Boy aims to enhance its competitive edge and adapt to changing consumer preferences.
A Welcoming Board Environment
Michael Lawton, Chair of the Board of Directors, remarked on the importance of welcoming new perspectives during this transformative period. By incorporating fresh ideas and experiences, the board aims to strengthen its governance and strategic decision-making processes.
Educational Background and Qualifications
Baer's academic achievements include a Bachelor of Business Administration from the University of Michigan’s Stephen M. Ross School of Business and a Juris Doctor from Cardozo School of Law at Yeshiva University. His educated background complements his extensive professional experience, giving him a well-rounded perspective essential for board membership.
About La-Z-Boy Incorporated
For over ninety years, La-Z-Boy has made comfort its mission, starting with the invention of the recliner in 1927. As a vertically integrated retailer and manufacturer of furniture, La-Z-Boy prides itself on quality and a deep commitment to customer satisfaction. They operate around 190 company-owned La-Z-Boy Furniture Galleries and a nationwide network exceeding 350 galleries, providing exceptional service to their customers.
Extensive Product Range
La-Z-Boy's offerings extend across various segments that include both company-owned and licensed retail outlets. Their portfolio comprises high-quality furniture options, ensuring that customers find the perfect piece for any room. Joybird, also a part of the La-Z-Boy family, specializes in modern, upholstered furniture with a direct-to-consumer approach.
Looking to the Future
With Matt Baer's addition to the board, La-Z-Boy is poised to navigate its next chapter with a blend of seasoned expertise and innovative vision. The company's commitment to elevating customer experience and adapting to market changes reflects a promising road ahead.
Frequently Asked Questions
What recent appointment was made to La-Z-Boy's Board of Directors?
Matt Baer, CEO of Stitch Fix, was appointed to the Board, effective January 1, 2025.
What is La-Z-Boy's Century Vision?
The Century Vision is a growth strategy focused on innovation and market expansion to ensure La-Z-Boy's success in the next 100 years.
What qualifications does Matt Baer bring to La-Z-Boy?
Matt Baer has extensive retail experience at companies like Stitch Fix, Macy's, and Walmart, along with an advanced education in business and law.
How many members are on La-Z-Boy's Board of Directors following the new appointment?
With Matt Baer's appointment, the Board expands to eleven members.
What types of products does La-Z-Boy offer?
La-Z-Boy offers a variety of furniture, including recliners, sofas, and customized pieces through its network of stores and e-commerce.
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