MARTINSVILLE, Va. – Doug Townsend, co-president of Hooker Furniture division Home Meridian International, has left the company effective Nov. 13, a move that places co-president Lee Boone as president of the division.
According to a filing with the U.S. Securities and Exchange Commission, made public Thursday, Townsend reached a separation agreement with that had him leaving the company immediately.
He has been co-president of the division, which includes Samuel Lawrence Furniture, Samuel Lawrence Hospitality, Pulaski Furniture, Prime Resources International, Accentrics Home and HMIdeas, since May 2018. He has been with the company for nearly 20 years, serving in roles such as CEO and chief financial officer of the SLH division and chief operating officer of the Clubs division and senior vice president operations for the e-commerce segment before becoming co-president.
He also has served as executive vice president, HMI Asia and also was chief financial officer and senior vice president, U.S. operations for Home Meridian International and was chief financial officer and senior vice president, U.S. operations for Samuel Lawrence Furniture.
“Doug has been an integral part of Home Meridian for 20 years and has served in key financial and operational roles in the US and Asia,” said Paul B Toms, Jr., chairman and CEO of Hooker Furniture Corp. “For the past 2½ years, he has served as co-president of HMI, and his contributions to the company are significant and long-lasting. We thank him for his service and wish him well in his future endeavors.”
Townsend was not immediately available for comment.
I’m Tom Russell and have worked at Furniture/Today since August 2003. Since then, I have covered the international side of the business from a logistics and sourcing standpoint. Since then, I also have visited several furniture trade shows and manufacturing plants in Asia, which has helped me gain perspective about the industry in that part of the world. As I continue covering the import side of the business, I look forward to building on that knowledge base through conversations with industry officials and future overseas plant tours. From time to time, I will file news and other industry perspectives online and, as always, welcome your response to these Web postings.