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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) March 13, 2007
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Culp, Inc.
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(Exact Name of Registrant as Specified in its Charter)
North Carolina 0-12781 56-1001967
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(State or Other Jurisdiction (Commission File Number) (I.R.S. Employer
of Incorporation) Identification No.)
1823 Eastchester Drive
High Point, North Carolina 27265
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(Address of Principal Executive Offices)
(Zip Code)
(336) 889-5161
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(Registrant's Telephone Number, Including Area Code)
Not Applicable
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(Former name or address, if changed from last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
|_| Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 5.02. Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers; Compensatory Arrangements of Certain
Officers.
On March 13, 2007, the board of directors of Culp, Inc. (the "Company")
took action to appoint Kenneth R. Bowling as chief financial officer (principal
financial officer) of the Company, effective May 1, 2007. Mr. Bowling, age 45,
joined the Company in 1997 as controller for the former Culp Velvets/Prints
division. He was promoted to corporate controller in 2001 and took on additional
responsibilities as assistant treasurer in 2002. Mr. Bowling has served as the
Company's vice president, finance and treasurer since 2004. He also serves as
the Company's principal accounting officer. A press release issued by the
Company on March 13, 2007 to disclose these changes is included in this filing
as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit 99.1 - Press Release dated March 13, 2007
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: March 16, 2007
Culp, Inc.
By: /s/ Franklin N. Saxon
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Franklin N. Saxon
President
EXHIBIT INDEX
Exhibit Number Exhibit
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99.1 Press Release dated March 13, 2007
Exhibit 99.1
Culp Names Ken Bowling Chief Financial Officer
HIGH POINT, N.C.--(BUSINESS WIRE)--March 13, 2007--Culp, Inc. (NYSE: CFI)
today announced the company has named Kenneth R. Bowling, age 45, chief
financial officer, effective May 1, 2007. Bowling has served as the company's
vice president, finance and treasurer since 2004. He joined Culp in 1997 as
controller for the former Culp Velvets/Prints division. He was promoted to
corporate controller in 2001 and took on additional responsibilities as
assistant treasurer in 2002. Prior to joining Culp, Bowling was controller for a
division of Hamilton Beach/Proctor Silex. He holds a bachelors degree in
business administration from Berea College and a masters of business
administration (MBA) from Wake Forest University.
Commenting on the announcement, Frank Saxon, president of Culp, Inc., said,
"Ken Bowling is well qualified to become chief financial officer of Culp. With
over ten years of financial experience with the company, he has a deep
understanding of our business and what it takes to manage and protect our
financial assets. Ken has worked with me closely in many aspects of the
company's management and operations and will add considerable depth and
dimension to our senior management team as we continue to execute our strategy
in today's global marketplace."
Bowling will report directly to Saxon, who was recently named chief
executive officer of Culp, effective May 1, 2007.
About Culp, Inc.
Culp, Inc. is one of the world's largest marketers of mattress fabrics for
bedding and upholstery fabrics for furniture. The company's fabrics are used
principally in the production of bedding products and residential and commercial
upholstered furniture.
CONTACT: Culp, Inc., High Point
Kenneth M. Ludwig, 336-889-5161
Senior Vice President, Human Resources