Kolb To Step Down From Mohawk Board

Calhoun, GA, Feb. 22, 2013 -- David Kolb notified Mohawk's board of directors that he will retire and not seek another term on the board.

According to the company's filing with the Securities and Exchange Commission, Kolb, and another retiring board member, Phyllis Bonanno, will complete their current terms.

Kolb is a former board chairman and stepped down from that position in 2004. Many people know that Kolb was the driving force and visionary in the early stages of Mohawk's growth. He took the company public in 1992 and grew the company from $300 million to $1.5 billion in 1994. Using public equity, he acquired Horizon in 92, Karastan, Bigelow, Fieldcrest Cannon and American Rug Chrafsman in '93, and Aladdin in '94. Even after the Aladdin acquistion in '94 which gave the Lorberbaum family controlling interest in the company, Kolb went on to drive the acquistions of Galaxy, World and Image. 

Kolb joined Mohawk in 1980. He was an attorney but served as the director of Allied Fiber's carpet fiber division. Kolb was at the helm at Mohawk when it moved its headquarters from Amsterdam, New York to Atlanta, Georgia.

Many who know Kolb's management style said he was very intellegent and spoke softly at the board meetings. He chose his words wisely.  Floor Focus incuded Kolb as one of the top twenty most influential leaders of the floorcovering industry in its 20th anniversary issue last year.

Related Topics:Karastan, Mohawk Industries