Cole set to succeed Belgrad at Schnadig
By Powell Slaughter -- Furniture Today, March 21, 2004
CHICAGO — CHICAGO — Thirty-year industry veteran Alan Cole has joined upholstery maker and case goods importer Schnadig Corp. as president and chief operating officer.
Donald Belgrad, who had been president, remains chairman and CEO. He said Cole will be groomed as his successor.
Executive Vice President Norman Waxman has requested reduced responsibilities in order to spend more time with his family. He will continue to be involved with major accounts, gallery dealers and special projects, and remains on the board of directors.
"We are most fortunate to have attracted such a high-caliber executive who has demonstrated his skills and effectiveness," Belgrad said. "I wasn't looking for just an executive. I was seeking a partner who has the integrity and character consistent with the culture established by our founder, Lawrence K. Schnadig."
Cole was president and CEO of LifeStyle Furnishings International, and led the divestiture of its operating divisions in 2001 and 2002. Cole also held executive posts at Berkline, where he was president and CEO; and Broyhill, where he was vice president and general manager of the upholstery division.
Most recently, Cole has been on the board of directors of manufacturer Hooker Furniture, and on the advisory board of retailer Slumberland in Little Canada, Minn.
"Schnadig is a company with a bright future in a rapidly changing industry," Cole said. "Its long history as a major upholstery maker has been enhanced in recent years by its growing success as a complete marketer of major home collections that include correlated upholstery, occasional, dining and bedroom. The opportunities are limitless. I am thrilled to be a part of this already successful team."
Cole, who will be on the board, will maintain offices at both Schnadig's Chicago headquarters and its High Point merchandising center.
Waxman first joined Schnadig in 1959 and became an officer and director before leaving in 1973. He returned in 1988 as executive vice president and director.
"He has been a major contributor to the corporation's growth and success," Belgrad said.
Waxman has been involved in industry charities, and received the first Anti-Defamation League Lifetime Achievement Award presented in the furniture industry. He also has been honored by City of Hope for his philanthropic endeavors.
"We are honored that he wants to continue with us in his new capacity," Belgrad said. "I am looking forward to Norman's uninterrupted counsel."
Schnadig has manufacturing facilities and distribution centers in Belmont, Miss.; Cornelia, Ga.; Corona, Calif.; and Montoursville, Pa. It's among the largest family-owned companies in the industry and has been in business since 1952.
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