Chromcraft Revington CEO Departs, Successor Named

June 17, 2008  by in UnCategorized   

By Home Furnishings Business in Casual Furniture on June 2008 Chromcraft Revington, West Lafayette, Ind., said that Chairman and CEO Benjamin M. Anderson-Ray will step down and resign from the company’s board by mutual agreement on June 30. Ronald H. Butler, the company’s lead director, will become chairman and CEO.

Board member Craig Stokely, who will become lead director, said, “This change in leadership is the next step in the evolution of our company toward becoming a consumer- and customer-focused company with efficient and effective product supply capabilities.”

Anderson-Ray, who joined Chromcraft Revington in 2005, will assume an advisory role for 90 days. In a statement, he said, “At this time it is appropriate for me to step out of the leadership of the company to support the ongoing process.”

On May 13, the company announced a 18.9 percent decline in first-quarter sales and a loss of $2.2 million. Earlier, the company reported a 23.7 percent sales decline in its fiscal year along with a $14.9 million loss for the period.

Butler, 58, has served on the company’s board since 2004 and previously served as interim chairman. Tuesday’s announcement said he resigned his position as president and CEO of Pet Resorts Inc., which builds pet boarding, day care and grooming facilities. His previous experience includes serving as PetSmart’s executive vice president of merchandising and marketing.

In March, the company announced it would cease manufacturing at its Delphi, Ind., factory and convert the building into a warehouse and distribution center. The move reduced the factory’s workforce by 150 people as production was shifted to suppliers in Asia.