Leadership Changes at La-Z-Boy: Whittington Takes Chair Role

Leadership Changes at La-Z-Boy Incorporated

La-Z-Boy Incorporated is making strategic changes to its Board of Directors that reflect its commitment to strong leadership. Effective December 11, 2024, Melinda Whittington, who currently serves as the President and Chief Executive Officer, has been elected as the Chair of the Board. This decision comes as part of the Board's regular evaluation of its leadership structure.

Melinda Whittington: A Proven Leader

Whittington's election to Chair illustrates the confidence the Board has in her capabilities. Having led the company as CEO since 2021, she has a notable track record of fostering growth and innovation within La-Z-Boy. Before her tenure as CEO, she played a crucial role as the Senior Vice President and Chief Financial Officer for three years. Her extensive background also includes significant leadership roles at Allscripts Healthcare Solutions and Kraft Foods Group, Inc., making her well-equipped to guide La-Z-Boy into the future.

Strategic Vision for Future Growth

In her role as Chair, Whittington plans to continue driving the company’s strategic vision. She believes in operational excellence which she anticipates will contribute significantly to sustainable growth and value for all stakeholders. Her collaborative style will likely enhance the effectiveness of the Board while also reassuring investors.

Michael Lawton's Transition to Lead Director

Alongside Whittington's new role, Michael Lawton will transition from his position as Chair back to Lead Director. Lawton has been a respected member of the Board since 2013 and has served in different capacities, including being the independent Lead Director prior to his chairmanship in 2022. His experience at Domino’s Pizza, Inc., where he was the Chief Financial Officer, is invaluable for guiding La-Z-Boy during this transition.

Experience and Leadership

Lawton's extensive leadership experience, which includes roles in corporate strategy and financial operations with major brands, positions him as a vital resource for supporting Whittington. Both leaders' former and current roles provide them with a comprehensive understanding of the market dynamics affecting La-Z-Boy, ensuring they can navigate any challenge that lies ahead.

Teamwork and Collaboration

Whittington and Lawton express a strong commitment to teamwork and collaborative leadership. They believe that a unified approach will be essential in steering La-Z-Boy towards continued success. Janet Kerr, Chair of the Nominating and Governance Committee, voiced her support, emphasizing that the combination of their experiences positions the Board to provide effective oversight and support for operational excellence.

A Bright Future Ahead

The leadership changes at La-Z-Boy Incorporated represent a calculated approach to fostering a dynamic and responsive Board of Directors. With Whittington at the helm and Lawton providing strategic guidance as Lead Director, the company is on track to reinforce its presence in the furniture industry.

Frequently Asked Questions

1. Who has been elected as the new Chair of the Board at La-Z-Boy?

Melinda Whittington has been elected as the new Chair of the Board effective December 11, 2024.

2. What position will Michael Lawton hold after the leadership changes?

Michael Lawton will return to his previous role as the independent Lead Director of the Board.

3. What experience does Melinda Whittington bring to her new role?

Whittington has extensive experience as CEO and CFO at La-Z-Boy Incorporated as well as leadership roles in other top companies like Allscripts and Kraft Foods.

4. Why are the leadership changes being made?

The Board's changes are part of a periodic evaluation to strengthen its leadership structure and ensure effective governance.

5. How do these changes impact the future of La-Z-Boy?

The leadership changes are aimed at driving sustainable growth and value for stakeholders, positioning the company for a successful future.

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