Hooker Furnishings Corporation Announces CFO Retirement and Board Expansion

Hooker Furnishings Corporation (NASDAQ: HOFT) revealed in a recent 8-K filing that Paul A. Huckfeldt, the Chief Financial Officer and Senior Vice President of Finance and Accounting, will retire from his positions effective on February 2, 2025, marking the end of the company’s 2025 fiscal year. Huckfeldt, 67 years old, has been an integral part of the company since joining in 2004 and has held the position of CFO since January 2011.

As part of the transition, Hooker Furnishings also announced that upon Huckfeldt’s retirement, the Board of Directors will be expanded from seven to eight members, with Huckfeldt being elected to the Board on February 3, 2025. The move was made to leverage Huckfeldt’s extensive experience and knowledge gained during his 14-year tenure as CFO, his deep understanding of the company’s strategy, and his professional relationships with major shareholders and the investment community.

Jeremy Hoff, the Chief Executive Officer, expressed gratitude for Huckfeldt’s contributions, particularly during strategic acquisitions and navigating challenges like the 2020 COVID pandemic. He commended Huckfeldt’s work ethic and leadership style, recognizing his significant role in the company’s journey. Board Chair W. Christopher Beeler, Jr., acknowledged the value of Huckfeldt’s continued involvement in a non-independent director capacity, emphasizing that Huckfeldt’s expertise will be beneficial for the company and its shareholders.

In terms of compensation for his new role on the Board, Huckfeldt will receive a $22,917 retainer along with a $29,167 restricted stock grant, in line with the standard annual compensation package for non-employee directors. Notably, Huckfeldt will not serve on any Board committees and will not receive compensation for committee services.

In a related development, C. Earl Armstrong III, aged 53, is set to assume the role of Chief Financial Officer following Huckfeldt’s retirement. Armstrong, who has been with Hooker since 2009, serving in various financial capacities, brings over 20 years of accounting experience and is a Certified Public Accountant. His appointment as CFO reflects a deep bench of talent within the company.

CEO Hoff praised Armstrong’s capabilities and expressed confidence in his ability to excel in the CFO role. Armstrong’s tenure with the organization positions him well to lead the financial and accounting functions of Hooker Furnishings effectively.

As of the date of this report, no specific compensation determinations have been disclosed relating to Armstrong’s new appointment.

This transition within Hooker Furnishings signifies a strategic move to ensure continuity and stability in key leadership roles as the company continues its growth trajectory and navigates evolving market dynamics.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Hooker Furnishings’s 8K filing here.

Hooker Furnishings Company Profile

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. It operates in three segments: Hooker Branded, Home Meridian, and Domestic Upholstery. The Hooker Branded segment offers design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand; and imported upholstered furniture under the Hooker Upholstery brand.