Havertys Sets Board Changes, Dividend

February 24, 2016  by in Financial Reports, Industry   

The vote on Allison Dukes, president, CEO and chairman of the bank’s Atlanta division, will be held at the company’s shareholders meeting in May.

Terry McGuirk has decided not to seek re-election to the board and will retire his position at the expiration of his term in May.

Dukes, 41, has held leadership roles in a variety of SunTrust operations including investment banking, private wealth management and finance.  Dukes began her career at SunTrust in 1997, and after serving two years as director of finance at Axiom Global, Inc. in New York, rejoined SunTrust in 2002.

“We are fortunate to be able to nominate Allison and look forward to the strategic insights, energy and diverse perspectives that she will bring to our board,” said Clarence Smith, president, chairman and CEO of Havertys.

McGuirk, 64, is the chairman and CEO of the Atlanta Braves baseball organization. He has been a member of the Havertys board of directors since June 2002 and has served for more than a decade on the executive compensation and employee benefits committee.

“I was a recently elected president when Terry joined the board and I have always appreciated his counsel,” Smith said. “On behalf of the board, I would like to thank Terry for his service and leadership. He has been an active and valuable contributor and he will be missed.”

The retailer also declared a quarterly dividend of $0.10 per share on its common stock, and a dividend of $0.95 per share on its Class A common stock. The dividend is payable March 23 to shareholders of record on March 8.