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Century Furniture president announces retirement

Company to be acquired by the Shuford family

HICKORY, N.C - Eric S. Schenk, president and CEO of Century Furniture, announced his plans for retirement effective April 1 after a 40-year career with the company. Alex Shuford, III, currently vice president of sales and marketing, will take over as president.

Schenk started with Century Furniture in June 1973, after graduating from Lenoir Rhyne College. He moved quickly through the organization, holding key positions in most of the company's operations, including human resources manager, industrial engineer, plant manager, and vice president of manufacturing. In 2000, Schenk was named chief operating officer, a position he held until being named president and CEO in May 2010.

"After 40 years of service at Century, I am looking forward to a more relaxed lifestyle," Schenk said. "I am proud of what the company has accomplished over the course of my career, and I will always be proud to be associated with the Century family. Alex will be an effective president for Century having led our sales and marketing efforts for several years and our upholstery operations before that. I wish him well in his new role, and am confident of Century's future success."

"CV, Century and the Shuford family are extremely grateful for Eric's many contributions at Century throughout his career," said Harley F. "Buck" Shuford Jr., chairman of Century's parent company, CV Industries, and longtime president of Century. "He has been a tremendous leader at all levels of the company for over 40 years."

"We will certainly miss Eric at Century," said Alex Shuford II, vice chairman and CEO of CV Industries. "It is rare today to have a legacy with one company that includes the accomplishments that he has had. We wish him all the best in his retirement."

Incoming President, Alex Shuford III, has worked for Century since September 2001. Prior to that he owned and operated his own company in San Francisco. "I am honored to be given the opportunity to lead such a wonderful team," he said. "Eric Schenk has positioned the company for strength and success, and I look forward to building on that foundation."

CV Industries also announced that Century Furniture will be acquired by the family of Alex Shuford II, a part of the broader Shuford family that has owned and operated Valdese Weavers and Century for more than 70 years. It is expected that the transaction will be completed later this spring. CV Industries will continue to wholly-own Valdese Weavers and various real estate interests.

"My family and I are very optimistic about the future of the furniture industry and Century's role in helping to shape that future," Shuford II said. Members of his family who are currently active in the management of Century Furniture include Shuford III, daughter Comer Shuford Wear, senior director of advertising and marketing; son-in-law Brandon Hucks, chief financial officer; and son-in-law Evan Bledsoe, financial analyst.

"I am pleased that Century is remaining a family-owned business and that it will be operated by the family members who own it, including my brother Alex and his family," Buck Shuford said. "CV will focus its energy and resources on supporting the further development of the Valdese Weavers business."

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