Daily News
From Home Furnishing Business
Hooker Furnishings Corporation Announces Search for Independent Director
January 4,
2026 by Karen Parrish in Business Strategy, Industry 
Hooker Furnishings Corporation, a global leader in home furnishings, announced it has entered into a cooperation agreement with Global Value Investment Corporation under which GVIC and the Company will work together in good faith to identify a mutually agreeable independent director with industry expertise within 45 days of signing the Agreement. Once the agreed upon director is identified and properly vetted, the Board would increase its size from eight to nine and immediately appoint this new independent director to the Board.
“We are pleased to have reached this constructive outcome with GVIC, which we believe is in the best interests of our shareholders,” said Jeremy Hoff, CEO of Hooker Furnishings. “We look forward to welcoming an industry expert to our Board to support our strategic vision and continue advancing our objective of delivering long-term profitable growth.”
JP Geygan, Chief Executive Officer and President of GVIC, commented, “GVIC invested in Hooker because we believe it has an attractive business model, strong financials and a leading position within its industry. We see meaningful opportunity for profitable growth and long-term value creation. We appreciate the constructive and thoughtful engagement with the Hooker Board leading to this outcome and look forward to an ongoing productive dialogue with management and the Board.”
Separately, the Company announced that Board Chair W. Christopher Beeler, Jr. has notified the Company that he plans to retire from the Board at the Company’s 2026 annual meeting of shareholders (the “2026 Annual Meeting”) and will not stand for re-election. Mr. Beeler’s decision not to stand for re-election was not a result of a disagreement with the Company.
Hoff continued, “I’d like to express our deep gratitude to Chris Beeler for his dedication to Hooker since joining the Board in 1993. Mr. Beeler’s decades of experience with the Company have been instrumental in helping Hooker navigate through numerous economic cycles, and I know that we will continue to build on his insights as we move forward. His contributions have been invaluable and the entire Board of Directors thanks him for his service to the Company and our shareholders.”
Under the terms of the Agreement, the Company has also agreed to nominate the new independent director for election at the 2026 Annual Meeting and 2027 annual meeting of shareholders. GVIC has agreed to vote all of its shares in favor of Hooker’s nominees at such annual meetings (subject to specified conditions) and has entered into other customary voting and standstill commitments until the earlier of 30 days prior to the nomination deadline for the 2028 annual meeting of shareholders and 120 days prior to the anniversary of the 2027 Annual Meeting. The full Agreement will be filed by the Company with the U.S. Securities and Exchange Commission as an exhibit to a Current Report on Form 8-K.