La-Z-Boy announced today that Jerry Kiser has elected to step down as the Company's president and chief executive officer and the Board has appointed Kurt L. Darrow, a 24 year La-Z-Boy veteran, to succeed him.

Patrick H. Norton, La-Z-Boy's chairman of the board, said "I am very pleased that we have an individual of Darrow's talents, experience and reputation in the furniture industry to elevate to this key leadership role at La-Z-Boy. He is well known and well respected by our dealers and employees, and those relationships will permit him to complete the transition of La-Z-Boy as a globally based company started under Kiser's leadership."

Most recently Darrow served as president of La-Z-Boy Residential, the Company's flagship brand and largest division. His previous roles during his career include senior vice president of sales & marketing and vice president of sales, a position he held for nearly 12 years. Under his direction, the Residential division's annual sales volume more than doubled, and he played a pivotal role in the successful introduction and evolution of the Company's proprietary distribution system. Darrow holds a Bachelor's Degree from Adrian College, where he serves as a member of the College's Board of Trustees.

Norton went on to say, "Kiser was instrumental in bringing La-Z-Boy through a period of great turmoil in the furniture industry. Kiser will assist the Board and Darrow in an orderly transition of leadership responsibilities."