Bumgarner to join FMCA as EVP
Clint Engel -- Furniture Today, February 8, 2004
HIGH POINT — Jim Bumgarner will join the Furniture Manufacturers Credit Assn. as executive vice president Feb. 23, leaving his post as president of factoring firm The Joseph Dean Co.
He replaces the retiring Barry Wood, ending a search for a top executive for the FMCA that was frustrated by the abrupt departure of Wood's first replacement last summer.
Bumgarner has been with Joseph Dean since 1988 and president since 1993. Previously, he was a credit manager for furniture manufacturers Century and Broyhill. When he leaves Joseph Dean, Bumgarner also will step down as vice president of parent company Carson's.
Bumgarner has been involved with FMCA since 1978 and has served two terms each as president, treasurer and vice president. He has been on the FMCA board for 12 years and is a two-time recipient of the group's R.K. Rudicil II Award for Excellence in Credit.
He has resigned as a board member and FMCA secretary. A replacement is expected to be named shortly.
Dave Carpenter, FMCA president and director of credit for La-Z-Boy Financial Services in Greensboro, N.C., said he is delighted Bumgarner accepted the job.
"Jim brings more than 20 years of solid furniture industry experience to his new role, and I am confident he will be both decisive and successful in meeting the challenges and capitalizing on the opportunities our organization currently faces," Carpenter said.
Bumgarner said he feels "blessed to have been given an opportunity to lead the premier credit association in the furniture industry." He said the FMCA has enabled both factoring firms and manufacturers to increase their profits and their overall success.
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