Racine retires from Shermag
By Furniture Today Staff -- Furniture Today, January 14, 2002
SHERBROOKE, Quebec — Serge Racine has retired as chairman of Shermag, the furniture manufacturer he founded 25 years ago.
His departure was effective Dec. 31, 2001. Racine began to step back from day-to-day operations in August 2000 after Jeff Casselman was named president and chief operating officer. Less than a year later, Casselman became chief executive officer.
Shermag's board of directors will elect a new chairman soon.
"Serge Racine built Shermag into a world-class organization which today is known for high-quality residential furniture products across North America," Casselman said. "His vision led the organization to establish a vertically integrated manufacturing network and a highly focused marketing strategy, which have allowed it to gain an important competitive position."
The publicly held Shermag is Quebec's largest producer of household furniture and the third largest producer in Canada.
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