Michael T. Lawton Nominated To La-Z-Boy Incorporated Board Of Directors
MONROE, Mich., July 1, 2013
MONROE, Mich., July 1, 2013 /PRNewswire/ --La-Z-Boy Incorporated (NYSE: LZB)
today announced that Michael T. Lawton has been nominated to serve for a
one-year term on the company's board of directors. La-Z-Boy shareholders will
vote on Lawton's election as well as the re-election of the company's ten
existing board members at La-Z-Boy's annual meeting, to be held August 21,
2013, at the company's headquarters.
Lawton, 54, has served as the Executive Vice President and Chief Financial
Officer of Domino's Pizza, Inc. since 2010. He joined Domino's in 1999 and,
during his tenure, held positions of increasing responsibility at the company,
including Executive Vice President of International. Prior to joining
Domino's, Lawton was the Senior Vice President and Chief Operating Officer of
Gerber Products Company, now a subsidiary of Nestle S.A. While at Gerber, he
held various financial and general management positions. Lawton began his
career at Ernst & Whinney, now Ernst & Young.
Kurt L. Darrow, Chairman, President and Chief Executive Officer, of La-Z-Boy
said, "Michael is a high-caliber, well-seasoned financial executive with a
wealth of consumer, retail and international experience that will translate
well to our business. We look forward to his perspective and the contribution
he will make to our company. Long-range succession planning and continuity is
of paramount importance to our company. With a number of board retirements
expected over the next several years, the board believes it prudent to expand
the number of directors at this time to help ensure an orderly transition.
This has proven to work well for us and has become a matter of practice."
Lawton holds a B.A. in Accounting from Michigan State University and an M.B.A.
from Grand Valley State University in Michigan. He is also a Certified Public
Accountant and serves as Board President for Aim High School, a private school
for high-functioning students on the autism spectrum.
The Company has increased the board's size to 11 directors, effective at the
upcoming annual meeting. Shareholders may nominate a candidate for the new
position by providing written notice containing the requisite information (as
provided in the bylaws) to the Secretarybefore the close of business on July
This news release is just one part of La-Z-Boy's financial disclosures and
should be read in conjunction with other information filed with the Securities
and Exchange Commission, which is available at:
http://investors.la-z-boy.com/phoenix.zhtml?c=92596&p=irol-sec. Investors and
others wishing to be notified of future La-Z-Boy news releases, SEC filings
and quarterly investor conference calls may sign up at:
La-Z-Boy Incorporated is one of the world's leading residential furniture
producers, marketing furniture for every room of the home. The La-Z-Boy
Upholstery segment companies are Bauhaus, England and La-Z-Boy. The operating
units in the Casegoods segment consist of two groups, one including American
Drew, Lea and Hammary, and the second being Kincaid.The company-owned Retail
segment includes 94 of the 313 La-Z-Boy Furniture Galleries® stores.
The corporation's branded distribution network is dedicated to selling
La-Z-Boy Incorporated products and brands, and includes 313 stand-alone
La-Z-Boy Furniture Galleries® stores and 565 independent Comfort Studios®
locations, in addition to in-store gallery programs for the company's Kincaid,
England and Lea operating units. Additional information is available at
SOURCE La-Z-Boy Incorporated
Contact: Kathy Liebmann, (734) 241-2438, firstname.lastname@example.org
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