What’s next for Furniture Brands International?

If Sun Capital did indeed win three seats on the board as it claims, the answer could be turmoil.

Furniture Brands, the parent of Broyhill, Lane, Thomasville, Drexel Heritage, Henredon and Maitland-Smith, says it needs until May 20 to verify the results of the proxy election votes that were submitted at this week’s annual shareholders meeting. Sun says its proxy vote consulting firm has already counted enough votes to assure a victory for its three candidates.

(Incidentally, this proxy stuff is big business. In its first-quarter earnings report, Furniture Brands listed $587,000 in financial and legal “costs associated with proxy contest,” and you can b...Read More