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Stanley's Prillaman to retire in April

By Furniture Today Staff -- Furniture Today, February 27, 2005

Capping a 36-year career at Stanley Furniture, Albert Prillaman will retire as chairman in April, the case goods manufacturer said.

Jeff Scheffer, now CEO and president, is expected to be elected chairman as well, the company said. Prillaman will remain on the board as "lead director and liaison with the board on oversight matters and key strategic initiatives."

Prillaman, 59, joined Stanley in 1969 and was named president in 1983, CEO in 1985 and chairman in 1988.

Scheffer joined the company as president in 2001. He was named CEO and joined the board of directors in late 2002.

In a conference call with analysts, Scheffer praised Prillaman's legacy.

"He is as good a mentor as he is a doer," Scheffer said. "The track we're on would not be possible without his leadership, his vision and his clear thinking."

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