Three Board Members Retire from Decorator

June 9, 2011 by · Comments Off on Three Board Members Retire from Decorator 

Pembroke Pines, Fla.-based Decorator Industries, Inc., a leading supplier of interior furnishings for the recreational vehicle, hospitality, healthcare and manufactured housing industries, has announced the retirement of three long-time board members at its recent annual meeting on June 1.

They include:
• Joseph N. Ellis: A board member since 1993 who founded LaSalle-Deitch in 1963, a distributor of products for the manufactured housing and recreational vehicle industries, and served as its president, CEO and chairman until his retirement in 1992.

• Thomas L. Dusthimer: A board member since 1997 who served as a consultant and director to Key Bank (Elkhart, Ind., 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.

Bill Johnson, president of Decorator Industries, noted, “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, which was filled by appointing Chris Sansone of Robotti and Co. Chris has been a research analyst at Robotti 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.

“Robotti and Co. 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,” Johnson said. “I know Robotti and Co. 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.”

[Slashdot] [Digg] [Reddit] [Facebook] [Google] [StumbleUpon]