Stan Askren. Photo: HNI Corp.

MUSCATINE, Iowa - HNI Corp. has announced changes to the contract furniture manufacturer's executive staff. Stan Askren plans to retire as CEO and chairman by the end of the year. HNI Corp. also announced the promotion of Jeffrey Lorenger to president, and his election to the company's Board of Directors.

Upon Askren's retirement, scheduled for no later than Dec. 31, Lorenger is expected to be promoted to CEO, HNI Corp. said. The company added the succession process has been underway for an extended period.

"Jeff and I will be conducting a stepped and orderly leadership hand-off between now and the end of the year," Askren said. "Jeff has a great track record of driving profitable sales growth in businesses he has led.  Jeff has a great set of developmental experiences, serving in multiple roles at corporate and in the operating units.  He is uniquely qualified to lead HNI Corp."

Lorenger joined HNI Corp. in 1998 and has held multiple executive level positions including president, Office Furniture; president, Contract Furniture Group; resident, Allsteel; vice President, sales and marketing, The HON Co.; and vice president, general counsel and secretary for HNI Corp.

Askren added, "I have enjoyed my 26 years at HNI, more than 14 as chairman, president and CEO, immensely.  I appreciate the tremendous support I have received from HNI members and from the HNI Board of Directors over the years.  It's been a great run.  I'm confident the best is yet to come under Jeff's leadership."

Based in Muscatine, Iowa, HNI Corp. (NYSE: HNI) is among the largest office furniture manufacturers in the world and the largest producer of fireplaces. HNI Corp.'s brands include: Allsteel, HON, Gunlocke, Lamex, OFM, HNI, Lamex, Maxon, Heatilator, Heat & Glo, Vermont,  Quadra-Fire, Harman, Monessen and Fireside Hearth and Home. 2017 sales were $2.176 billion.