No end in sight for Ashley's growth
Jay McIntosh -- Furniture Today, February 19, 2006
Arcadia, Wis. — Is there a ceiling on Ashley's expansion? Not that its top management can see.
The company continues to invest in its plants and its distribution system — over $100 million last year alone — and has a crew of executives who are comfortable with growth and change.
Last year, Ashley announced it was looking for a Southeastern site, probably in North Carolina or Virginia, for another upholstery factory and distribution center of about 1.2 million square feet. Chairman Ron Wanek said there's also a possibility that a 300,000-square-foot case goods production facility will be added to the project, expected to open in 2008.
Ashley has plants and distribution centers at seven other U.S. sites, plus an upholstery plant in China. It sold a case goods plant in Brazil last year after owning it for five years.
Leading the company's management are President and CEO Todd Wanek and his father, Chairman Ron Wanek. Presidents of company divisions are Rob Hoffman, case goods; Kerry Lebensburger, upholstery; Tom Leon, Millennium; and Chuck Spang, Ashley Furniture HomeStores.
Longtime executive Chuck Vogel left as executive vice president in 2002, and he and his son, Ben, sued the Waneks and Ashley, claiming they did not pay enough to buy out the Vogels' 25% stake in the company. The parties reached an undisclosed settlement in May 2005, and Chuck Vogel issued a statement of support for the company and remains on its board of directors.
Todd Wanek was promoted to CEO in 2002, with Ron retaining the chairman's title.
"I had a goal to build a company to $1 billion, then I turned it over to Todd," said Ron Wanek. "I am an entrepreneur. Todd is an extremely organized systems guy."
He said that's why the company has been able to handle its growth while keeping its operations at a high level.
Ron Wanek makes Forbes 400 list
09/29/2008Vogels sue Waneks over Ashley's value
11/16/2002Wanek makes Forbes 400 richest people list
10/19/2008Ashley leads in growth
08/19/2006
