Norton Announces Retirement

June 1, 2006  by in UnCategorized   

By Home Furnishings Business in Furniture Retailing on June 2006 Pat Norton, chairman of La-Z-Boy Inc. and a legend in the furniture industry, has announced he will retire in August.

The company’s board of directors will name a successor at its August board meeting, and has appointed Norton chairman emeritus, a non-voting member of the board, upon his retirement. Norton said this morning he will continue as an adviser to the board and the company’s management.

Norton, 84, joined the company in 1981 and was named chairman in 1997. He is credited with transforming the company by building its brand, broadening its product offering and distribution system and establishing the company’s Furniture Galleries store system. He also played an integral role in the company’s acquisition of Ladd in January 2000, a move that put the company into the case goods business.

Norton began his career in the furniture department of a St. Louis-based department store, and before joining La-Z-Boy as senior vice president of sales and marketing, worked for Ethan Allen for 20 years where he was vice president of sales and marketing and a member of the board of directors.

“My career in this business, particularly since joining Ethan Allen, has been a storybook,” Norton said. “I got the chance to work with some wonderful guys, including Nat Ancell (founder of Ethan Allen). Going through the development of the store system at Ethan Allen and then here was amazing. It’s been a great ride, and it has allowed me to do some things outside the industry that make a real difference.”

In memory of his late wife, in 2003 Norton established the LaVerne B. Norton Scholarship at Monroe County Community College with one of the largest gifts in the history of the school. The scholarship is awarded annually to students showing academic promise and financial need. This year, the scholarship is covering the tuition costs of nine students at the school.

Norton received an honorary Doctorate from High Point University in High Point, where, in 2000, the school named its Furniture Studies Hall Norton Hall. Additionally, in 1992, members of the La-Z-Boy extended family, including sales representatives and dealers, established, in his honor, the Patrick H. Norton Scholarship Fund at the university.

In addition to his successes in business, Norton has received a number of awards and recognitions throughout his career. In 1995, he was inducted in to the American Furniture Hall of Fame and received the Distinguished Service Award from the American Furniture Manufacturers Association. Other honors include the National Brotherhood Award from the National Conference of Christians and Jews, as well as the Spirit of Life Award from the City of Hope.

“Pat Norton is legendary in the furniture industry and we are fortunate to have had his wisdom, direction and leadership for 25 years,” said Kurt Darrow, president and chief executive officer. “Over the course of his tenure, he propelled the company to its level today and effected significant change to position us for a solid future in a dynamic environment. He will be greatly missed by the board and all our employees and I, personally, have found it a distinct privilege to have worked with and learned from him. We wish him all the best in his retirement.”