L&P promotes leaders
Furniture Today Staff -- Furniture Today, March 11, 2013
CARTHAGE, Mo. - Components supplier Leggett & Platt has promoted Karl Glassman to president and Matthew Flanigan to executive vice president, and said David Haffner is expected to be named chairman and CEO at the May board meeting.
Haffner has been president and CEO since 2006 and a director since 1995, and has held various management roles at Leggett for three decades.
As chairman he will replace Richard Fisher, who has been on the board since 1972 and has been chairman since 2008, the company said. Fisher is expected to remain on the board as vice chair and lead director.
Glassman has been Leggett's chief operating officer since 2006 and will retain that role. He had been executive vice president and a director since 2002 and has been in management at the company since 1982.
Flanigan also retains his current role as chief financial officer, which he has held since 2003. He has been a senior vice president since 2005 and in other management roles since 1997.
"We are excited to have individuals of Karl's and Matt's caliber - extremely capable leaders with high integrity, determination and keen business acumen - continue to lead our company," said Haffner. "These two have been instrumental in helping orchestrate a significant change in the company's strategic direction, and have led our team to generate outstanding TSR(1) performance for our investors. We have high expectations of what they will continue to accomplish."
Haffner, Glassman and Flanigan also have renewed their employment agreements with the company until May 2017.