Heritage Home Group, formerly Furniture Brands International, releases Lane Furniture President Dan Masters; other senior FBI executives also reported to have left company

Audrey Dixon

LOS ANGELES , November 26, 2013 (Industry Intelligence) – Heritage Home Group LLC, the company set up by KPS Capital Partners LP to acquire the assets of Furniture Brands International (FBI), has released Dan Masters from his position as president of Lane Furniture, Furniture Today reported on Nov. 25.

After holding several executive positions with other companies, Masters began work with Lane Furniture in May of 2012 as vice president of business development. That August, he replaced Greg Roy as president of the company.

Masters made it clear that he had no hard feelings about his release, and that he was looking forward to making his next career decision. He also expressed his understanding about the changes KPS Capital will make in the structure of Lane Furniture, adding that he perceives KPS’ actions as straightforward and decisive, Furniture Today reported.

FBI CEO Ralph Scozzafava has also departed, and has been replaced by Ira Glazer, a turnaround specialist.

In a separate news item on Nov. 26, Furniture Today reported that Hickory Chair President Jay Reardon had also departed and that FBI’s CFO Vance Johnston had left, though there has been no company confirmation of the latter.

Reardon had been Hickory Chair’s president for 17 years, according to Furniture Today.

The primary source of this article is Furniture Today, November 25, 2013

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