Paul Maitland-Smith stepping down
By Brian Carroll -- Furniture Today, March 17, 2002
HO CHI MINH CITY, Vietnam — Paul Maitland-Smith is stepping down as chief executive officer of furniture and home accents maker Paul Maitland International, parent of Theodore & Alexander, and has named Stelvio Guglielmi as PMI's CEO.
Maitland-Smith, who remains chairman, said he wants to spend more time on design and on taking it easy. Gugliemi was the company's general director.
For the past year or so, Maitland-Smith has spent less time running the company's global operations and more on designing the hundreds of furniture pieces Theodore & Alexander introduces each market.
"I am 66 now and taking things a bit easier," Maitland-Smith said. "However, the company is still expanding on all fronts. We plan to add a further 500,000 square feet this year (in Vietnam) and a similar amount in 2003. Things are going well for us, with sales worldwide increasing very nicely."
Maitland-Smith said he plans to work with the new leadership "for several years" and retains his ownership stake in the company. "I am now seeing the company perform well under the guidance of the team that I have groomed over the past 17 years," he said in a letter to shareholders.
Guglielmi has worked closely with Maitland-Smith for the past 12 years, which includes time at Maitland-Smith, another company he founded. Theodore & Alexander was launched in 1996 and began shipments in 1998.
"He is well respected by everyone in our organization, which makes me feel very confident he will also succeed in establishing his leadership over new members of the team," Maitland-Smith said.
Also part of the succession plan is the elevation of Gerry Paglinawan to director of design. An employee of the company during its entire existence, Paglinawan previously was head of design.
"Nobody I know of is better suited to ensure that the Theodore & Alexander identity will become a legacy," Maitland-Smith said.
Theodore & Alexander employs more than 5,000 people and manufactures from factories totaling over 1 million square feet, most in the Linh Trung export zone here, making it one of Asia's largest furniture makers. The company also has offices in England, Spain, France, Italy and the Netherlands.
Maitland-Smith will not attend the High Point market in April, but Guglielmi will be in the Theodore & Alexander showroom.
| Maitland-Smith |
| Guglielmi |
-
Maitland-Smith launches first licensed line
Oct 24, 2011 -
People On The Move
Feb 23, 2012 -
Marvin I. Danto, executive, design center developer
Feb 17, 2012
VIEW ALL GALLERIES
