For immediate Release: CV INDUSTRIES

ForimmediateRelease:
CVINDUSTRIESNAMESL.SNYDERGARRISON,JR.CHAIRMANOFITSBOARDOFDIRECTORS
HICKORY,N.C.,July12,2016–L.SnyderGarrison,Jr.hasbeenelectedChairmanoftheBoardofDirectors
ofCVIndustries.HiselectionoccurredatacompanyboardmeetingonJune21,2016.Garrisonsucceeds
HarleyF.(Buck)Shuford,Jr.,whoisretiringasChairman,andisaformerCEOofCenturyFurniture
Company.CVIndustriesisthecorporateparentofValdeseWeaversandShufordDevelopment,areal
estateholdingcompanylocatedinHickory,NC.
Garrison’selectionasChairmancomesinthefirstmeetingoftheboardofdirectorssinceCVIndustries
announcedonMay10,2016thatithadcompletedthesaleofthecompanybytheShufordfamily,who
formerlyheldamajorityinterestsince1935.TheCVIndustriesESOPTrustpurchasedallofthe
outstandingsharesonbehalfofthenearly1000employeesofValdeseWeavers,creatinganow100%
employee-ownedESOPcompany.
Withhisnewrole,Garrisonwillberetiringafter31yearsofservicetoValdeseWeavers,formorethanthe
pasttwodecadesasthecompany’sChiefFinancialOfficerandChiefAdministrativeOfficer.
Also,theboardfilledtwoseatswiththeelectionofnewdirectors,M.BradleyBlaylock,Presidentof
ThetfordFinancialServicesofRichmond,VA,andMichaelF.Shelton,President&ChiefExecutiveOfficerof
ValdeseWeavers.
ForFurtherInformationContact:
JenniferWood,[email protected]
828.893.4388(office)828.320.6079(mobile)
PO Box 70 / 1000 Perkins RD SE, Valdese, NC 28690
Phone: 828.874.2181
WWW.VALDESEWEAVERS.COM