STANLEYTOWN, Va.–Albert Prillaman, longtime head of Stanley Furniture, has returned to the company as chief executive officer.
Prillaman succeeds Jeffrey R. Scheffer, who has resigned as president, CEO and director to pursue other interests.
In a statement from the company, Prillaman said he would focus on strategic issues targeted toward increasing shareholder value. Stanley Furniture has experienced disappointing financial results for some time, and has been undergoing a restructuring of its manufacturing operations, according to the statement.
In addition, R. Glenn Prillaman, Albert Prillaman’s son, has been named executive vice president of sales and marketing. Stephen A. Bullock has been appointed executive vice president of operations. Both executives had previously been senior vice presidents. Along with Douglas I. Payne, executive vice president of finance and administration, Glenn Prillaman and Bullock will operate as the Office of the President, coordinating Stanley’s day-to-day operations.