La-Z-Boy Incorporated today announced here of the nomination of Michael S. Skrzypczak as the new Vice President and Treasurer of the Company. It has also been affirmed on the behalf of the Company in this regard, that Mr. Skrzypczak, in the present designation of both the Vice President and Treasurer shall report from this time onwards to Mike Riccio, the Senior Vice President and Chief Financial Officer. It is to be noted in this respect, that Michael Skrzypczak is succeeding Mark Stegeman.

La-Z-Boy Incorporated is a prominent residential furniture producer, marketing furniture for every room of the home. The La-Z-Boy Upholstery Group companies include Bauhaus, Centurion, England and La-Z-Boy whereas the La-Z-Boy Casegoods Group companies are American Drew, Hammary, Kincaid and Lea. The proprietary distribution network of the corporation is dedicated exclusively for the selling of La-Z-Boy Incorporated products and brands augmenting 340 stand-alone La-Z-Boy Furniture Galleries® stores and 307 La-Z-Boy In-Store Galleries. The La-Z-Boy Furniture Galleries retail network happen to be the largest in North America's largest single brand furniture retailer, according to industry trade publication In Furniture.

This sudden high profile appointment has given rise to a tremendous enthusiasm in the business community both far and wide. While going through a dedicated discourse with the topmost echelon of the Company it has been learnt that henceforth Skrzypczak shall be accountable for all the functions of the treasury that include cash management, credit and banking relationships. In addition, he will also be in charge of the development and efficient maintenance of systems that are destined towards the forecasting and tracking of cash flow, and at the same time taking a wholehearted attention in the effective management of the company's U.S. and foreign bank relationships. Furthermore, he shall also be in charge selecting the necessary guidelines and directing the company's risk management and insurance programs. In this aspect he will be working with Mike Riccio in the negotiation and structuring of financing transactions.

Mike Riccio while being asked by the Press & Media about the high profile appointment said, "Mike will be a strong addition to our team. He is a seasoned professional with expertise in financial planning and analysis, cash flow management, budgeting, working capital management and credit. I am delighted he is joining La-Z-Boy and am confident he will provide strong leadership to the company's treasury arm."