Hooker Furnishings separates with SVP-Operations & CIO Tod Phelps in cost-saving move

HOOKER FURNISHINGS Corp

Tod R. Phelps separated from the Company effective September 4, 2024, as part of a cost savings project announced in June 2024.
Phelps will receive cash severance of $330,000 (12 months' salary) and pro-rated RSU value of $109,000.
CEO Jeremy Hoff cited persistent low demand in home furnishings due to poor macro-economic environment as driver.
No replacement was named for the SVP-Operations & CIO role.

item 5.02

Executive movements

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Departed

Tod R. Phelps

Senior Vice-President-Operations and Chief Information Officer

HOFT · HOOKER FURNISHINGS Corp

Effective: 2024-09-04
Filed: September 5, 2024, 7:59 PM ET

On September 4, 2024, Hooker Furnishings Corporation (the “Company”) and Tod R. Phelps, Senior Vice-President-Operations and Chief Information Officer, reached an agreement separating Mr. Phelps from the Company effective immediately.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Tod R. Phelps departed as Senior Vice-President-Operations and Chief Information Officer at HOOKER FURNISHINGS Corp.

Action: separated
Role: Senior Vice-President-Operations and Chief Information Officer

Exact text from the filing

On September 4, 2024, Hooker Furnishings Corporation (the “Company”) and Tod R. Phelps, Senior Vice-President-Operations and Chief Information Officer, reached an agreement separating Mr. Phelps from the Company effective immediately.

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HOOKER FURNISHINGS Corp filing history →

Source: SEC EDGAR

accession 0001185185-24-000867

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