Nido Qubein Elected to La-Z-Boy Board of Directors
MONROE, Mich., Aug. 21, 2006 -- La-Z-Boy Incorporated (NYSE, PCX: LZB) announced the election of Nido Qubein to its Board of Directors for a term of three years at the annual shareholders meeting held last week in Monroe.Qubein, 57, currently the president of High Point University, in High Point, N.C., serves on the Board and as chair of the executive committee of BB&T Corporation (the ninth largest financial institution in the country) and is chairman of Great Harvest Bread Company, which has 218 bakeries in 41 states. He is also a world renowned public speaker and serves on the boards of several national organizations.
"We are honored Nido has accepted the Board's nomination," said Kurt Darrow, La-Z-Boy President and Chief Executive Officer. "He is an extraordinarily accomplished individual who has achieved great success in business and now in the academic world. A strategic thinker with a unique point of view, he has made monumental changes to High Point University and will undoubtedly make a significant contribution to our company."
Qubein is the recipient of a number of honors and awards, including, among others: the Horatio Alger Award for Distinguished Americans; the Ellis Island Medal of Honor; and Citizen of the Year and Philanthropist of the Year from the city of High Point. He is also the founder and chairman emeritus of the National Speakers Association Foundation.
La-Z-Boy is one of the world's leading residential furniture producers, marketing furniture for every room of the home. The La-Z-Boy Upholstery Group companies are Bauhaus, Centurion, Clayton Marcus, England, La-Z-Boy, and Sam Moore. The La-Z-Boy Casegoods Group companies are American Drew, Hammary, Kincaid, Lea, and Pennsylvania House.The corporation's vast proprietary distribution network is dedicated exclusively to selling La-Z-Boy Incorporated products and brands, and includes 334 stand-alone La-Z-Boy Furniture Galleries stores, of which 68 are company owned, and 315 La-Z-Boy In-Store Galleries, in addition to in-store gallery programs at the company's Kincaid, Pennsylvania House, Clayton Marcus, England, and Lea operating units. According to industry trade publication In Furniture, the La-Z-Boy Furniture Galleries retail network is North America's largest single-brand furniture retailer. Additional information is available at http://www.la-z-boy.com.
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