Stanley Furniture Adds 1 to Board

October 28, 2014  by in Financial Reports, Industry   

John "Ian" Lapey has been elected to the board.

Lapey is a private private investor and most recently a partner with Third Avenue Management, an investment firm where he served in various capacities from 2001 to 2014. From 1997 to 2001, Lapey was an equity analyst focusing on housing and furniture with Credit Suisse First Boston and Salomon Brothers. He began his professional career with Ernst & Young LLP. Lapey’s term as a director will end at the Stanley's 2015 shareholders’ meeting at which he is expected to be nominated for reelection.

“Our board of directors has played an integral part in seeing our company through its transformation from domestic manufacturer to a company sourcing and marketing a brand with a rich heritage increasingly recognized around the world,” said Glenn Prillaman, president and CEO. “We are pleased to add a new board member who is familiar with our company and has experience in the equity markets along with expertise in the housing and furniture markets.”

Lapey said he has been following the company for more than 15 years.

"I have great respect for the company and its management team," he said. "I am excited to be joining the board of directors and hope to contribute to significant long term growth in shareholder value."