Lucas to head Rowe
Gerald Birnbach stays on as adviser
By Gary Evans -- Furniture Today, March 25, 2007
Ellison, Va. — Rowe Furniture has named Stefanie Lucas president and CEO, replacing the upholstery manufacturer's longtime president, Gerald Birnbach.
Birnbach will remain as an adviser to Rowe.
Lucas was most recently senior vice president of sales, marketing and merchandising for the midpriced upholstery company. She has more than 20 years of sales, marketing and management experience in home furnishings and related industries.
The move represents the end of a 50-year career for the 76-year-old Birnbach, who began as a sales representative in Boston for Rowe and climbed the corporate ladder.
"I love the industry; it's been good to me," Birnbach said. "Rowe Furniture is like a child to me."
Birnbach hired Lucas four years ago to infuse vitality into a company hoping to take advantage of what he describes as a "stodgy" industry.
"We were looking for a different direction," he said. "We wanted to get a little more fashion into our product, and we wanted someone with a fresh outlook on things."
Birnbach said Lucas has filled the bill.
"I think she's aggressive and full of life. She loves the business, and she's surrounded by good people," he said.
Christopher T. Metz, managing director of Sun Capital Partners, which bought Rowe out of bankruptcy in January, said Lucas "has an extensive marketing, sales and management career in home furnishings, and brings the right blend of experience and leadership to Rowe to further grow and accentuate our focus on strategic objectives and core competencies. She is uniquely qualified to lead the management team to maximize Rowe's position in the custom upholstery industry."
Before joining Rowe, Lucas was vice president of global marketing for Reebok International's Reebok brand. Previously, she was director of marketing for Door Store Furniture, was a partner in a Florida advertising agency, and was director of marketing for Chico's Casual Clothing.
Lucas will be responsible for leading a company of 850 employees back to health.
Sun Capital Partners Group IV Inc. was the entity that bought Rowe, and Sun affiliates also own such industry source companies as Lexington and Powell, and retailer Wickes.
Sun Capital, based in Boca Raton, Fla., was the only bidder in an auction of Rowe supervised by the bankruptcy court, paying $30 million, including $24 million in cash.
Rowe, once a stalwart in the upholstery manufacturing business, encountered problems with production and delivery when it switched to new manufacturing technology during a time of slowing business and rising raw materials costs.
The company filed for Chapter 11 protection this past September, listing assets of $130 million and liabilities of $93.3 million. It subsequently liquidated its Atlanta-based Storehouse retail chain.
Rowe reported 2005 sales of more than $290 million and losses of $5.3 million. Losses totaled $8.3 million for the six-month period ending last May, before the company's stock was delisted by the American Stock Exchange.
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Lucas named president of Rowe
Mar 22, 2007 -
Lucas named president of Rowe
Mar 21, 2007
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