Mohawk CFO Swift To Retire

By Staff -- Home Textiles Today, 11/8/2004 12:00:00 AM

Calhoun, Ga. —

Mohawk Industries Inc. Chief Financial Officer and Vice President of Finance John Swift will retire on Dec. 31.

Replacing Swift will be Frank Boykin, currently Mohawk's vice president and corporate controller — the latter being a post he has held since 1993.

Boykin has been working with Swift to transition into the chief financial officer position, according to the company.

“John has been an integral part of the Mohawk organization as we grew from a $270 million carpet manufacturer to a floor covering manufacturer with 2003 sales in excess of $5 billion and an annual EPS growth rate of 26 percent since 1997,” said Jeffrey Lorberbaum, chairman and CEO.

“When John started with Mohawk in 1984, Mohawk was an unprofitable division of Mohasco Industries. Under his financial leadership, Mohawk was spun off as an independent company in 1988 and became a publicly traded company in 1992,” he added.

Lorberbaum noted that during Smith's tenure, Mohawk completed 17 acquisitions growing to number 349 on the Fortune 500 list with a total enterprise value in excess of $6 billion.