Zimmerman leaving FBI board
Furniture Today Staff -- Furniture Today, February 25, 2013
ST. LOUIS - Furniture Brands International has announced that board member James Zimmerman has told the company he will not stand for reelection to the board at the company's May 2 stockholders meeting.
Zimmerman, a retired Federated Department Stores chairman and CEO who has served on the Furniture Brands board since 2010, is leaving due to increased demands on his time from other business and personal interests, FBI said in a filing with the Securities and Exchange Commission.
In the same document, the furniture manufacturer and importer said it will suspend its employee stock ownership plan as of March 1. Under the plan, eligible employees could purchase company stock at a price equal to 95% of the fair market value.