Stanley Furniture Company, Inc. Announces Executive Changes
December 08, 2017 at 06:15 pm IST
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Stanley Furniture Company, Inc. announced that Glenn Prillaman, President and Chief Executive Officer, has resigned pursuant to a separation agreement entered into between the company and Mr. Prillaman in connection with the previously announced proposed sale of substantially all the company's assets. Matthew W. Smith has been elected as Interim Chief Executive Officer. Mr. Smith is a managing director with The Finley Group, Inc. The company's board of directors engaged the Finley Group in October 2017 to assist with a potential sale transaction and with working capital management. The company also announced that three sales representatives have been elected as Vice Presidents of the company. Josh Carter has been promoted to Vice President of Sales – Brick & Mortar, John Pigg has been promoted to Vice President of Sales – Interior Design, and Landon Smith has been promoted to Vice President of Sales – E-Commerce. The company also announced that Michael P. Haley and Justyn R. Putnam have informed the company that they plan to resign as directors. Mr. Putnam's resignation as a director is pursuant to the terms of a share purchase agreement under which the Talanta Fund, L.P. will sell its 740,896 shares of Stanley common stock to the Hale Partnership Fund, L.P. Mr. Putnam serves as investment manager of the general partner of the Talanta Fund, L.P. Steven A. Hale II is the sole manager of the investment manager for the Hale Partnership Fund, L.P. Mr. Putnam's resignation will be effective upon the closing of the share purchase. Mr. Haley's resignation will be effective concurrently with Mr. Putnam's resignation.
HG Holdings, Inc. is engaged in the business of providing title insurance and tile agency services. The Company's segments include title insurance, real estate, reinsurance, and management services. The title insurance segment issues title insurance policies and provides title agency services for residential and commercial real estate transactions. This segment also provides closing and/or escrow services to facilitate real estate transactions. The real estate segment is engaged in rental real estate through its equity investment in HC Realty. The management services segment, through its subsidiary, HG Managing Agency, LLC, is engaged in providing various management advisory services such as legal entity formation, licensure, regulatory approval, assumption of policies, and other general operational services. Its subsidiaries include National Consumer Title Insurance Company; National Consumer Title Group, LLC; Title Agency Ventures, LLC, and HG Managing Agency, LLC.
HG HOLDINGS, INC. 
