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Mattress fabrics marketer Culp names Frank Saxon as CEO

Feb '07
Culp Inc announced the company has named Franklin N. Saxon, age 54, Chief Executive Officer (CEO), effective May 1, 2007. Robert G. Culp, III, age 60, chairman of the board and chief executive officer, will continue to serve as chairman of the company and will continue to be actively involved in key customer and industry relationships.

Saxon joined Culp in 1983 as corporate controller and served as the company's chief financial officer from 1985 to 1998, leaving that position to serve as senior vice president and president of the former Culp Velvet/Prints division. Saxon was elected to the Board of Directors in 1988.

In addition to his duties as president of the Culp Velvets/Prints division, in 2001 he was named the company's executive vice president, chief financial officer and treasurer. He became the company's president in 2004, assuming the responsibilities as its chief operating officer.

Robert G. Culp, III, chairman of the board and chief executive officer of Culp Inc, said, "Frank Saxon is well prepared and exceptionally well qualified to become chief executive officer of our company. As important transitions continue for Culp, we are highly confident in Frank's ability to serve in this position."

"His long history and diverse responsibilities with the company reflect his dedication and leadership abilities. In recent years he has been instrumental in bringing about the significant strategic and operational changes which have allowed the company to survive and progress through a rapidly changing industry environment and, as a result, Culp is now well positioned to succeed in a highly challenging international market."

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