MUSCATINE — HNI Corporation, based in Muscatine, announced Friday the retirement of its Chief Executive Officer, Stan Askren.
CEO and Chairman of the Board of Directors, Askren, will retire at the end of the year, according to HNI Spokesman Gary Carlson. Jeffrey Lorenger has been promoted to president of HNI, and Carlson said the company expects Lorenger to take over as CEO by the end of the year.
"I have enjoyed more 26 years at HNI, more than 14 as chairman, president and CEO, immensely," Askren said in a news release. "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."
Lorenger joined HNI in 1998 and has had multiple executive level positions, including department president, president of Allsteel and vice president of sales and marketing, according to a news release.
People are also reading…
"Jeff has a great track record of driving profitable sales growth in businesses he has led," Askren said. "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 Corporation."
Carlson said the leadership changes will be an "orderly transition," as they are part of a long-planned succession process.