Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 13, 2020, Hooker Furniture Corporation (the "Company") and Douglas
Townsend, Co-President of the Company's Home Meridian division, reached an
agreement separating Mr. Townsend from the Company effective immediately. Terms
of separation "without cause" are outlined in the Company's employment agreement
with Mr. Townsend dated June 4, 2018 and included with the Company's Form 10-Q
filed on December 6, 2018. Upon Mr. Townsend's separation, D. Lee Boone,
Co-President of the Home Meridian division, assumed the role of President of the
Home Meridian division.
"Doug has been an integral part of Home Meridian for twenty years and has served
in key financial and operational roles in the US and Asia," said Paul B Toms,
Jr., Chairman and CEO of Hooker Furniture Corporation. "For the last 2½ years he
has served as Co-President of HMI and his contributions to the Company are
significant and long-lasting. We thank him for his service and wish him well in
his future endeavors," Toms concluded.
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