Wednesday, Furniture Brands International, Inc. (FBN), a manufacturer of residential furniture products, announced confirmation of the appointment of Ralph Scozzafava as the company's new Chief Executive Officer. The company also confirmed that Board Chairman and former Chief Executive Officer, Holliman would continue as Chairman until May 1, 2008.
Since June 2007, Scozzafava has served Furniture Brands as Vice-Chairman of the Board and Chief Executive Officer Designate. He joined Furniture Brands from his role as Vice President -- Worldwide Commercial Operations of Wm. Wrigley Jr. Company.
Holliman joined Furniture Brands upon the acquisition of Lane Furniture Industries in 1987, and he was elected President and Chief Executive Officer of Furniture Brands in 1996. In 1998 he was named Chairman of the Board.
The St. Louis, Missouri-based company said it would announce its fourth quarter and 2007 full year results on January 30, 2008.
FBN finished Wednesday's regular trading at $9.60, down $0.46 or 4.57%, on a volume of 843,600 shares on the NYSE. However, in after-hours trading, the stock gained $0.36 or 3.75%, and was at $9.96.
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