Richard Loynd has had a distinguished career which included his position as Chairman and Chief Executive Officer of INTERCO. It was under his leadership that the company engaged in its negotiations to restructure its debt, and ultimately emerged from Chapter 11 proceedings with a stronger balance sheet and a new focus on growth. In 1992, INTERCO had four primary operating companies: Florsheim and Converse in footwear manufacturing, and Broyhill and Lane in furniture manufacturing. In an effort to more clearly define the company's focus, in 1994 INTERCO spun off to its interest in Florsheim and Converse. The company was renamed Furniture Brands International to embrace the new focus. Loynd is now retired but still serves on the company's Board of Directors. Richard Loynd is a graduate of Cornell University.