Havertys undergoes leadership transition

Clarence H. Smith retires from role as CEO, Steven G. Burdette will succeed Smith as CEO

ATLANTA — Havertys today announced that Clarence H. Smith, chief executive officer and chairman of the board, is retiring
from his position as CEO and transitioning to executive chairman of the board, effective Jan. 1, 2025.

At that time, Steven G. Burdette, currently president, will succeed Smith as CEO of Havertys and will also retain the role of president and serve as a member of the board of directors.

“Today’s announcement follows a planned transition to select the next CEO to lead Havertys,” Smith said. “Steve has been an invaluable member of my leadership team, delivering on strategic initiatives and operational excellence during turbulent times. With this transition, Steve becomes only the seventh CEO in the 139-year history of Havertys. His deep knowledge of the industry, passion for the company and its culture, and the respect of an experienced team make Steve the right leader to move the company forward. I am grateful to every team member for their dedication to Havertys’ success and their honoring of the legacy of our company’s founders.”

“The selection of Steve as CEO is the result of an established and thoughtful process to ensure a seamless leadership transition that focuses on strength and growth,” said Tom Hough, lead independent director of Havertys’ board of directors. “We are pleased Clarence will assume his role as executive chairman, providing insights to the company’s strategic directions from his more than 50 years with Havertys and outstanding leadership as CEO since 2003.

“Under Clarence’s guidance the company weathered two great challenges, the financial crisis which began in late 2007 and the global Covid-19 pandemic. Clarence evolved the company’s vision and transformed Havertys from a retailer of other companies’ merchandise into a specialty branded retailer selling exclusively the Havertys brand of quality furniture.”

Burdette said he is excited at the opportunity and appreciates the “trust and confidence the board has shown in me to lead this great company. We have a remarkable legacy and a strong platform from which to grow. I look forward to continuing Havertys’ tradition of serving our customers, suppliers, team members and shareholders with integrity and accountability.”

Burdette, 63, was appointed president in 2021. He began his career with Havertys as a manager trainee in Tampa, Florida, in 1983 and has held responsibilities for all aspects of the business including store management, distribution, operations, merchandising and marketing.

He was named executive vice president of stores in 2008 and executive vice president of operations in 2017 prior to his appointment as president.

Clarence Smith began his career with Havertys as a manager trainee in 1973 in Columbia, South Carolina, and moved through the ranks of the company. He has served in several capacities at the store, operational and corporate levels, including regional manager of the mid-south and the Atlanta region.

He was named senior vice president of stores in 1996 and COO in 2000. Smith was elected CEO in 2003 and was president from 2002 until 2021. He was elected to the board of directors in 1989 and named chairman in 2012.   

Smith also was inducted into the American Home Furnishings Hall of Fame in October 2024. He has served on the board of directors of Oxford Industries Inc., as a member of the board of trustees of Marist School, and is a member of the Executive Committee of Metro Atlanta Chamber of Commerce.