Havertys (HVT) announced a significant leadership transition, with Clarence H. Smith retiring from his role as Chief Executive Officer. Mr. Smith will continue to serve the company as Executive Chairman, providing ongoing strategic oversight. This move signals a planned succession at the top of the organization.
Steven G. Burdette, who currently serves as the company's President, will assume the additional role of Chief Executive Officer, effective January 1, 2025. Mr. Burdette has been an integral part of the leadership team, notably guiding Havertys through the challenges of the COVID-19 pandemic. Under his previous leadership, the company achieved nearly 158% net income growth since 2019.
This transition aims to ensure continuity in leadership while bringing a new perspective to the CEO role. Burdette's proven track record during a period of significant market disruption positions him to lead Havertys through its next phase of growth and operational development. The company expects this change to support its ongoing strategic initiatives.
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