Brian Parke has been named Unifi's Chairman of the Board, effective April 22. Parke will assume the role of Chairman in addition to his current responsibilities as President and CEO. Donald F. Orr, who has served as Chairman of the Board since March 2001 will continue to serve as a valued member of the Company's Board of Directors.
In addition, William M. Lowe, Jr., the Company's CFO, will add the position of Chief Operating Officer to his current responsibilities. Lowe, who joined Unifi in December 2003, will be responsible for the Company's day-to-day operations concentrating on returning the business to profitability, allowing Parke to focus on growing the Company's business in Asia. “Unifi's growth in the Asian market is an essential component of our strategic plan. In this new role, I will be able to concentrate on the implementation of that plan and the development of our business in China,” Parke said.
Earlier this week, Unifi announced its intention to create a wholly-owned subsidiary in China. Today's changes provide the organizational and leadership structure necessary to successfully implement the Company's strategy for international growth. Parke, who was named President in January 1999 and CEO in January of 2000, brings a global perspective to the position of Chairman, as well as significant knowledge of international textiles. This decision reflects the confidence of the Board of Directors in the vision and leadership that Parke has provided for Unifi.
