Riccio to Retire as La-Z-Boy CFO in June

September 29, 2017  by Larry Thomas in Executive Changes, Industry   

Riccio, a 27-year veteran of the furniture industry, joined La-Z-Boy in early 2000 when the company acquired LADD Furniture, Inc., and held positions of increasing responsibility, including corporate controller, before his appointment to the CFO post in 2006.

The company said his accomplishments as CFO include ensuring the company’s compliance with Sarbanes-Oxley and serving as the executive sponsor for the implementation of the ERP System throughout all areas of La-Z-Boy.  He has also been actively involved in the company’s 4-4-5 retail store build-out strategy and merger activity with respect to independent La-Z-Boy Furniture Galleries stores as well as other entities, including the U.K. business.

“Mike has played an integral role in helping to transform La-Z-Boy Incorporated throughout his tenure with the company, which provided meaningful returns to shareholders,” said Kurt Darrow, chairman, president and CEO. “While his contributions to the company are many, one of the most notable was the work he did to strengthen the company’s balance sheet following the recession, which today leaves us in a position of great financial flexibility to grow our business.

“Additionally, Mike’s rigorous and disciplined commitment to La-Z-Boy and financial and personal integrity are unparalleled, and the entire leadership team has been privileged to work with him. On behalf of our shareholders, our board of directors, and the company, I would like to thank Mike for his leadership as our CFO and we wish him all the best in his retirement.”

The company said it will launch a national search for his successor, who will work with Riccio during a transition period.