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Stanley board adds director, elects new chairman

Michael Haley will take over for retiring chairman Albert Prillaman
STANLEYTOWN, Va. — Former Thomasville Furniture Inds. executive Paul Dascoli has joined the Stanley Furniture board of directors, and board member Michael Haley was elected chairman to succeed the retiring Albert Prillaman, the company announced.

Dascoli, a Thomasville executive from 1996 to 2006, currently is vice president and chief financial officer of VF Jeanswear Limited Partnership, a division of apparel source VF Corp. His term as a director will end in 2013, and he will fill a chair to be vacated by Thomas Millner, who has announced he will resign as a director early next year.

Haley, a Stanley director since 2003, will become non-executive chairman on Jan. 1 in connection with Prillaman's previously announced retirement. Prillaman will remain a board member. Haley, former president of case goods manufacturing at contract furniture source American of Martinsville, has been Stanley's lead director since May.

Micah Goldstein, who joined the company in August as chief operating officer, was also elected chief financial officer of the company in connection with the previously announced retirement of Douglas Payne as executive vice president, finance and administration. Before joining Stanley, Goldstein was president and CEO of Bri-Mar Mfg., a manufacturer of hydraulic equipment trailers.

"We are pleased to have Paul Dascoli join our board and for Mike Haley to become chairman at the beginning of 2011," said Glenn Prillaman, Stanley president and CEO. "Both men have first-hand knowledge of the furniture industry as well as a breadth of other experience that will be of value to the company as we move forward with our restructuring plan and as we develop strategy in the future. We also thank Doug Payne for his career contributions and welcome Micah Goldstein into his expanded role."

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