US' Culp announces change in executive management structure

Saxon will remain as chairman of the board, and he will continue in his important role as a strategic advisor. Saxon’s transition follows a tenure with the company of nearly 40 years. He joined the company in 1983 and has been a member of the board since 1987. He has served in various capacities, including chief financial officer from 1985 to 1998; president of the Culp Velvets/Prints division from 1998 to 2004; president and chief operating officer from 2004 to 2007; and chief executive officer from 2007 to 2019. He has served as executive chairman since January 1, 2020, the company said in a press release.

“The transition of Saxon to non-executive chairman reflects the continuation of our board’s long-standing executive succession planning process. I am extremely grateful for Saxon’s incredible leadership and stewardship over the course of his long tenure with Culp. He has left an indelible mark on our company as a result of his commitment to excellence, integrity, and his extensive business knowledge. We thank Saxon for his many years of dedicated service and recognise his invaluable contributions to Culp’s growth and success. We are pleased that we will continue to benefit from his experience and guidance as board chairman and strategic advisor to the company,” Iv Culp, president and chief executive officer of Culp, said.

Culp is one of the world’s largest marketers of mattress fabrics for bedding and upholstery fabrics for residential and commercial furniture. The company markets a variety of fabrics to its global customer base of leading bedding and furniture companies, including fabrics produced at Culp’s manufacturing facilities and fabrics sourced through other suppliers. Culp has manufacturing and sourcing capabilities in the United States, Canada, China, Haiti, Turkey, and Vietnam.

Fibre2Fashion News Desk (GK)