Terri Davis named president of Ultimate Accents
Replaces company founder Gail Steele
Heath E. Combs -- Furniture Today, May 3, 2010
KERNERSVILLE, N.C. — Industry veteran Terri Davis has been named president of Ultimate Accents, replacing company founder Gail Steele.Davis formerly worked as a consultant, a sales representative for Human Touch, and vice president of sales at Lea Inds., where she worked for two decades.
She reports to Paul Coscarelli and Al Schwerin, who own stakes in the company.
Schwerin and Coscarelli are the former owners of APA Marketing, which was acquired in 2008 by home office and entertainment source Whalen, which also produces under the Golden Oak brand.
They serve in executive positions at Whalen, in addition to having ownership stakes in Ultimate Accents. Coscarelli emphasized that he and Schwerin are full time employees of Whalen aren't involved with day-to-day operations of Ultimate Accents.
Coscarelli said that Davis' longtime industry focus on sales and contacts will be critical to Ultimate Accents' success.
Gail Steele, along with her husband Ray Steele, who was secretary, treasurer and marketing director, were terminated from the painted accent furniture company last week.
Gail Steele retains her one-third ownership in the company, the Steeles said in a press release. They said the terminations were the result of an ongoing disagreement between the Steeles and the business's other two partners, Al Schwerin and Paul Coscarelli.
In a press release, the Steeles said the termination was the result of a disagreement over marketing strategy. The other partners suggested an approach more oriented to mass merchants and chain furniture retailers, they said.
Coscarelli said that with the industry facing a future populated with fewer dealers, the company needs to place more of an emphasis on retailers who sell greater volume.
"In order to have volume that is sufficient to support the overhead of the company it needs to grow. Where that growth was going to come from was something we had some rousing discussions about," he said.
He said the decision to release the Steeles was the last in a list of possible options.
"The company was well run and well managed by Ray and Gail for 10 years," Coscarelli said. "I give them a lot of kudos for being able to manage a company through a couple years of difficulty.
"We're trying to build on all the positive things Ray and Gail have done over the last 10 years and make it a stronger company," he added.
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Ultimate Accents taps Davis as president
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