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Clarence Smith named chairman of Havertys board

ATLANTA - Clarence Smith, president and CEO of Havertys since 2003, has been given the additional duties of Havertyschairman.

Smith succeeds L. Phillip Humann as chairman of the retailer's board of directors. Humann, a retired SunTrust Bank executive who was named chairman in 2010, will remain on the board as lead director.

Smith has been a director since 1981 and has been with Havertys for 38 years.

"It has been a privilege to serve as chairman of a company with such a long history of integrity and success," said Humann. "Clarence's leadership, strategic decision making and dedication to Havertys' mission during these challenging years is confirmation of his abilities to direct the company's course in the future."

Noting that Havertys has had only six chairmen since its founding in 1885, Smith said he is "honored to be chosen by the board to continue to lead the company forward."

"Phil's experience as a former chairman and chief executive of a Fortune 500 company, great business acumen and temperament made him an excellent chairman during a transitional period as Havertys has improved its financial strength and reignited its growth," said Smith. "I look forward to his personal guidance and his continuing service on our board in the important role of lead director."

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