Furniture Brands International has announced that two members of its board of directors have indicated their intention to retire from the board upon completion of a new director selection process.
The two directors, Richard Loynd and Albert Suter, will stand for re-election to the board at the company's annual meeting on May 1, 2008. Their replacements are anticipated to be named during the second or third quarter of 2008 as part of an orderly succession plan.
Mr Loynd has held executive roles of increasing responsibility at several companies including Lincoln Electric, Emerson Electric, Eltra and Allied Chemical. He currently serves as Furniture Brands's lead director and is chair of the board's governance and nominating committee.
Mr Suter began as a project engineer for Knight & Associates, a national engineering firm. He currently serves on the board of directors of DeCrane Aircraft Holdings. He also serves as a regional trustee for Boys & Girls of America, a member of the executive committee of the national board of directors of Junior Achievement, is board chairman of the St Louis Community Foundation, and is a member of the engineering council of Cornell University.