Fort Lauderdale, FL (PRWEB) June 09, 2011
Decorator Industries, Inc., a leading supplier of interior furnishings for the hospitality, healthcare, manufactured housing (“MH”) and recreational vehicle (“RV”) industries announces the retirement of three long-time board members at its recent annual meeting on June 1, 2011.
Joseph N. Ellis – a board member since 1993 founded LaSalle-Deitch in 1963, a distributor of productsfor the manufactured housing and recreational vehicle industries, and served as its President, Chief Executive Officer and Chairman until his retirement in 1992.
Thomas L. Dusthimer – a board member since 1997 served as a consultant and director to Key Bank (Elkhart, Indiana District) until his retirement in 1992. Ellen Downey – a board member since 1997 was employed by Ryder System, Inc. serving in various financial positions until her retirement in 1993. Mr. Johnson, President, stated: “I know this was a difficult decision for these directors, but with the reduced sales and desire to reduce costs they felt it was the in the best interest of the Company if they stepped down at this time, allowing the Company to reduce the overall size of the Board to five members.
“The Company greatly appreciates all of their contributions and efforts over these many years. I personally would like to thank them for their guidance and wisdom during this difficult three year period."
The above action created a vacancy of one seat on the Board of Directors which was filled by appointing Chris Sansone of Robotti & Company. Chris has been a Research Analyst at Robotti & Company since 2003 and has closely followed the manufactured housing industry. He is also the general partner and portfolio manager of Sansone Partners, LP, a fund launched in July, 2007. On April 27, 2011 Chris also joined the board of EDAC Technologies Corporation, a manufacturer of components for the aerospace industry. He holds a B.S. in Economics from Pace University.
Mr. Johnson, President, stated: “Robotti & Company has been a long time investor in our company as well as the overall manufactured housing industry and we welcome their representative Chris Sansone to the board. I know Robotti & Company believes just as I do in the long term prospects of the manufactured housing industry and they have demonstrated this by continuing to invest in the industry.
“Adding Chris to the board brings another manufactured housing industry perspective needed but more importantly provides the insight needed for raising capital as we grow the Company again. I look forward to working with Chris and know he will make an impact on the board just as his three predecessors did.“Again, I would like to thank the three departing board members for their many years of exemplary service and thoughtful contributions.”
Decorator Industries, Inc., founded in 1953, designs, manufactures and sells interior furnishing products, principally draperies, curtains, cubicle curtains, shades, blinds, valance boards, bedspreads, comforters, pillows and cushions. Decorator Industries is a leading supplier to the lodging industry, healthcare industry, manufactured housing and recreational vehicle markets.