Alex Shuford III, currently vice president of sales and marketing, will take over as president of Century Furniture, effective April 1. He will replace Eric S. Schenk, who announced plans for retirement after 40 years with the company.

In addition, the Alex Shuford II family will exchange a portion of its stock in Century's parent company CV Industries (which also owns Valdese Weavers) for all of the Century Furniture stock in a deal that will be completed later this spring, allowing Century to operate as a separate company, according to a Furniture Today report.

"My family and I are very optimistic about the future of the furniture industry and Century's role in helping to shape that future," said Alex Shuford II, vice chairman and CEO of CV Industries. "We will certainly miss Eric at Century. It is rare today to have a legacy with one company that includes the accomplishments that he has had. We wish him all the best in his retirement."

Members of his family who are currently active in the management of Century Furniture include Shuford III, daughter Comer Shuford Wear, senior director of advertising and marketing; son-in-law Brandon Hucks, chief financial officer; and son-in-law Evan Bledsoe, financial analyst.

"After 40 years of service at Century, I am looking forward to a more relaxed lifestyle," Schenk said. "I am proud of what the company has accomplished over the course of my career, and I will always be proud to be associated with the Century family. Alex will be an effective president for Century having led our sales and marketing efforts for several years and our upholstery operations before that. I wish him well in his new role, and am confident of Century's future success."

Schenk started with Century Furniture in June 1973, after graduating from Lenoir Rhyne College. He moved quickly through the organization, holding key positions in most of the company's operations, including human resources manager, industrial engineer, plant manager, and vice president of manufacturing. In 2000, Schenk was named chief operating officer, a position he held until being named president and CEO in May 2010.