USA: Unifi Chairman Steps Down
Unifi, Inc, (NYSE: UFI), today announced that G. Allen Mebane will step down as Unifi's chairman of the board effective at the end of the October 26, 2000 directors meeting. He has accepted a nomination to stand for re-election as a director at the shareholders' Annual Meeting in October.Mebane has been Unifi's chairman since forming the company in 1971. Under his leadership Unifi has grown to $1.3bn in sales and is the world's largest producer of textured yarns. His strategic focus on technology and globalization has placed the company's operations on four continents. Unifi has been profitable in each of its 29 years.Donald F. Orr, a board member since 1988, was elected to replace Mebane. He will assume a non-executive role and will not be involved in day-to-day operations."Allen leaves us with a lasting legacy and sterling reputation within the industry," said Brian Parke, Unifi president and CEO. "Don's twelve years on the board and deep industry knowledge make him an excellent selection to replace Allen as Unifi's chairman of the board."In related news, Unifi also named Billy Moore as executive vice president/CFO, Tom Caudle as senior vice president/operations, and Lee Gordon as senior vice president/product development.Unifi is the largest producer and processor of textured yarns in the world. Its primary business is the texturing, dyeing, twisting, covering and beaming of multi-filament polyester and nylon yarns. Unifi's textured yarns are found in home furnishings, apparel and industrial fabrics, automotive, upholstery, hosiery and sewing thread.
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