Sam Federico new president of Harden Mfg.
HALEYVILLE, Ala. - Promotional case goods and upholstery manufacturer Harden Mfg. has replaced its president and CEO Harley Ostlund with Sam Federico, a turnaround specialist with more than 40 years of experience as an owner/operator of various companies.
Federico said he has been working in a consulting role with Harden for about four weeks.
said that Ostlund was very good on the manufacturing side of the business, but that the company "made a decision to change direction and change management."
is coming to the company at a time when it has continued to struggle.
"We think we will be able to do a better job than we have done in the last few years," he
"I don't think my predecessor did a terrible job, but there areas here where we need to make improvements."
has been struggling," he
"Our goal is to take it where it is today to becoming a longtime supplier of promotional furniture."
Federico's experience running businesses dates back to the 1970s when he
owned a chain of Wendy's fast-food restaurants.
was an owner and operator of various businesses with annual revenues ranging from $3.4 million to $125 million, ranging from lift truck companies to wood desk and chair manufacturers.
In 2000, he
helped form a consulting firm called Chikol Equities.
Since then, he
said, that firm has done consulting work with four or five furniture companies ranging from upholstery to case goods resources.
He remains a partner of that firm, but other management is running the day-to-day operations.
also said that he
has known various principles with Harden Mfg
. owner Linsalata Capital Management for about 30 years and looks forward to his
new role in the furniture industry.
said helping the company move forward will be a matter of returning to fundamentals.
"We need to be very consistent and we need to focus on taking care of our customers," he