Departures from Heritage Home continue
The president of another company that formerly belonged to Furniture Brands International is on the way out.
Dan Bradley, the president of Designer Brands Group since 2008, has resigned effective Dec. 6, Bradley confirmed Wednesday to Furniture Today, an industry trade publication.
Bradley told Furniture Today he had no comment on his reasons for leaving.
Designer Brands Group includes Henredon, Maitland-Smith, LaBarge, Pearson, Drexel Heritage, Hickory Chair and Lane Venture. Drexel Heritage was moved into the group this past May.
News of Bradley’s resignation was the latest about a growing string of executives leaving since KPS Capital Partners, a New York-based private equity fund, bought Furniture Brands’ assets in U.S. Bankruptcy Court last week.
On Monday, KPS formed a new company, Heritage Home Group, to replace the Furniture Brands name and announced that chief executive officer Ralph Scozzafava resigned. Since then, the company also released corporate chief financial officer Van Johnston, Lane Furniture president Dan Masters and Hickory Chair president Jay Reardon.
The new president and CEO of Heritage Home is Ira Glazer, 61, who was hired by KPS in 2003 to lead its turnaround of Wire Rope Corp. of America, now known as Wireco WorldGroup.
Replacing Johnston as CFO is Jeff Zappone, who like Glazer is considered a turnaround expert. He previously was senior managing director at ConwayMacKenzie, a consulting firm, where his online biography says he “has over 20 years of experience in restructuring, reorganization and turnaround management with specific expertise in profit enhancement, interim management, crisis management, insolvency and bankruptcy” across a wide range of industries.