La-z-boy Incorporated · NYSE:LZB
La-z-boy — Shareholder Meeting (July 2019)
17 slides from La-z-boy's shareholder meeting presentation, Jul 5, 2019
Slide 1: Additional Information
Additional Information La-Z-Boy Incorporated (the “Company”), its directors and certain of its executive officers may be deemed to be participants in the solicitation of proxies from Company shareholders in connection with the matters to be considered at the Company’s 2019 Annual Meeting of Sharehol
Slide 2: La-Z-Boy: positioned for long-term financial returns
La-Z-Boy By reinvesting in our brand, building on our strengths, taking calculated risks and developing strategic advantages, La-Z-Boy has positioned itself for long-term financial returns Strong brands, solid balance sheet and expansive global supply chain allow us to execute a dual-growth strategy
Slide 3: The La-Z-Boy Enterprise
The La-Z-Boy Enterprise MAKING ture Galleries® Stores ommerce SELLING Licensees - - - Wholesale Upholstery Segment - - - Wholesale Casegoods Segment - - - Retail Segment - - - Joybird included in Corporate/other Relative revenue representation (not 100% to scale) 4 Thailand Wholesale UpholsteryU.S.
Slide 4: Track Record of Creating and Returning Value
Track Record of Creating and Returning Value ($ in Millions) ($ in Millions) $2 $1,800 9.5% $140 $120 $1,700 8.5% $100 $1,600 7.5% $80 CASH USED FOR ACQUISITIONS CAPITAL EXPENDITURES DIVIDENDS SHARE PURCHASES $1,500 6.5% $60 $1,400 5.5% $40 $1,300 4.5% $20 $1,200 3.5% $-FISCAL 2015FISCAL 2016* FISCA
Slide 5: Our Top Priorities
Our Top Priorities Comprehensive approach to delivering industry-leading performance • • Build on portfolio of powerhouse brands and strong financial position to deliver industry-leading performance Deliver on multi-channel route-to-market strategy to capture high-growth segments of the marketplace
Slide 6: Our Board of Directors
Our Board of Directors Experienced leaders from a range of relevant backgrounds • • • • Proven leadership skills and extensive knowledge of the company and the furniture industry Former President, La-Z-Boy, our largest division Extensive retail experience with consumer-focused and fashion-orientated
Slide 7: Board Composition
Board Composition We have thoughtfully constructed our Board to advance our strategy • Our Board believes in the benefits of ongoing Board refreshment with the nomination and election of directors who bring new ideas, perspectives and skills • In selecting director nominees, the Nominating and Gover
Slide 8: Board Committees and Risk Oversight
Board Committees and Risk Oversight Our approach to committee composition and responsibilities FY 2019 meetings: 9 Holman McCollough • Compensation of executive officers • Enterprise risk management process 9 Key Oversight Duties •Financial reporting process •Compliance with legal and regulatory req
Slide 9: Corporate Governance
Corporate Governance Our Board is committed to governance practices that further our strategic growth plans and enhance shareholder value over the long term • • • • Lead independent director with clearly defined lead director framework and responsibilities Independent Board (9 of 10 directors)* Full
Slide 10: Pay Aligned with Strategy and Performance
Pay Aligned with Strategy and Performance The Compensation Committee designs our executive pay programs to support our business strategy • • Emphasize variable pay linked to our financial or market results Use relative total shareholder return (TSR) as a performance goal in long-term incentive award
Slide 11: Commitment to Human Capital Management
Commitment to Human Capital Management The mission of La-Z-Boy is to build an environment of everyday leadership by continually investing in employee growth and development • • The Board monitors our culture to encourage a focus on sustainable growth and to ensure we maintain the highest levels of e
Slide 12: Environmental Sustainability
Environmental Sustainability We’re committed to integrating environmentally sound & sustainable business practices into everything we do • Our Cut and Sew Center in Saltillo, Mexico was the first international facility in our industry to be EFEC registered • Utilize on-site generated renewable wood
Slide 13: A Compelling Long-Term Investment
Capitalizing on a strong foundation • Expansive omni-channel distribution A Compelling Long-Term Investment 14 Diverse Board advising on strategy, overseeing risk and supporting long-term value creation Investing in people, stores, La-Z-Boy.com, Joybird.com, facilities and processes Open to future s
Slide 14: A Compelling Long-Term Investment
* Proven La-Z-Boy brand World-class supply chain Capitalizing ona strong foundation ° Expansive omni-channel distribution Heritage of innovation A Compelling + Hear inom Long-Term Investment Fueling growth of Joybird Open to future strategic acquisition opportunities Investing in people, stores, La-
Slide 15: Reconciliation of GAAP to Non-GAAP Financial Measures
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES Appendix Fiscal 2015 Fiscal 2016* Fiscal 2017 Fiscal 2018 Fiscal 2019 sales sales sales sales sales sales * Fiscal 2016 includes 53 weeks. All other years presented include 52 weeks. 16 (Unaudited, $ amounts in thousands) GAAP Operating Income Re
Slide 16: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES Appendix • In addition to the financial measures prepared in accordance with accounting principles generally accepted in the United States ("GAAP"), this presentation also includes Non-GAAP financial measures. Management uses these Non-GAAP financial measures when assessi
Slide 17: Non-GAAP Financial Measures
AAP FINANCIAL MEASUR Appe In addition to the financial measures prepared in accordance with accounting principles generally accepted in the United States ("GAAP"), this presentation also includes Non-GAAP financial measures. Management uses these Non-GAAP financial measures when assessing our ongoin