Unifi, Inc.'s board terminated Brian R. Parke as the chairman, president and chief executive officer of the company effective immediately. Mr. Parke had been President of the company since 1999, CEO since 2000 and Chairman since 2004. Mr. Parke has agreed to continue to serve as the vice chairman of the company's Chinese joint venture, Yihua Unifi Fibre Industry Company Limited.
The Company also announced that the Board appointed Stephen Wener as the Company's new Chairman and “acting” Chief Executive Officer. Mr. Wener has served as the President and Chief Executive Officer of Dillon Yarn Corporation since 1980. The Dillon polyester and nylon texturing operations were purchased by the Company in January 2007. Mr. Wener was appointed a Director of the Company by the Board of Directors in May 2007. The Company will immediately begin a search to find a permanent Chief Executive Officer.
The Company also announced that after today's Board meeting Mr. Parke, Mr. R. Wiley Bourne, Mr. Charles R. Carter, Ms. Sue W. Cole, Mr. J.B. Davis, and Mr. Donald F. Orr resigned as members of the Company's Board of Directors effective immediately. After these resignations, the Board of Directors consists of Mr. Wener, Mr. William J. Armfield, IV., Mr. Anthony Loo, Mr. Kenneth G. Langone and Mr. William M. Sams.
