Wampler leaves Pulaski
Webb takes helm as president
By Jeff Linville -- Furniture Today, May 26, 2003
Pulaski, Va. — John Wampler has resigned as president and chief executive officer of Pulaski Furniture, and Larry Webb has been promoted from executive vice president to replace him.
It's the first time in 48 years that a Wampler isn't playing a key role at the case goods manufacturer. B.C. "Bunny" Wampler, John's father, joined Pulaski at its inception in 1955. He became president in 1967 and later CEO.
John Wampler has opened an office in Roanoke, Va., and says he is seeking new opportunities in the industry. He did not have a non-compete clause in his Pulaski contract.
He first worked for the company 30 years ago as a 15-year-old and joined full time in 1980. He became president in 1993 and CEO in 1997.
Bunny Wampler continued as board chairman before retiring in 1999.
John Wampler declined to discuss events that ultimately led to his resignation, but sources close to the issue said he and the board had differences on the direction of the company.
Pulaski, a privately owned company, is ranked 24th in Furniture/Today's Top 25 Manufacturers for the U.S. Market and had an estimated $219 million in total revenue last year. Wampler said it had been an "invigorating experience" moving the company in a new direction in the past three years, coping with global sourcing and other issues.
The company has hired new executives like Webb, who was chief operating officer at Stanley Furniture before joining Pulaski three years ago.
Wampler also said he feels good about the company's balance sheet and the strong response to this April's introduction of The Antiques Roadshow collection.
Webb joined Pulaski three years ago as executive vice president and chief financial officer, and added the COO duties in May 2002. He has been in the industry for 30 years.
He said the company is close to hiring a new CFO, but has no plans to fill the COO role.
"We will continue to follow the strategy that has placed us in an outstanding position in the industry," Webb said. That includes producing innovative products with high-perceived value through both domestic and global manufacturing, with Asian imports now making up more than half of the company's business, he said.
The rest of the management team will remain intact, said Jim Kelly Jr., executive vice president of product development, who has been with Pulaski for 32 years.
Wampler had been on the board of advisers for the developing World Market Center in Las Vegas. Pulaski will appoint someone else to that position.
