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herman miller inc (MLHR) Details

Herman Miller, Inc. engages in the research, design, manufacture, and distribution of office furniture systems, seating products, other freestanding furniture elements, textiles, home furnishings, and related services in the United States and internationally. The company provides modular systems under the Canvas Office Landscape, Locale, Public Office Landscape, Layout Studio, Action Office, Ethospace, Arras, and Resolve names; seating products under the Embody, Aeron, Mirra2, Setu, Say, Verus, Celle, Equa, Taper, and Ergon names; and storage products under the Meridian and Tu names. It also offers wood casegoods under the Geiger name; freestanding furniture products under the Abak, Intent, Sense, and Envelop names; and healthcare products under the Palisade, Compass, Nala, Ava, and Nemschoff names, as well as provides Thrive portfolio of ergonomic solutions and textiles, and data analytics solutions. In addition, the company provides products for residential settings under the Eames, Nelson, Bubble Lamps, Airia, Ardea, Bumper, Burdick Group, Everywhere tables, Claw, Caper, Distil, Envelope, Formwork, Full Round, H Frame, I Beam, Landmark, Logic Mini, Logic Power Access Solutions, Renew, Rolled Arm, Scissor, Sled, Soft Pad, Swoop, Tone, Twist, Ward Bennett, and Wireframe names. Its products are used in institutional environments, including offices and related conference, lobby, and lounge areas, as well as general public areas, such as transportation terminals; health/science environments comprising hospitals, clinics, and other healthcare facilities; industrial and educational settings; and residential and other environments. The company markets its products through its sales staff, own dealer network, independent dealers and retailers, and independent contract office furniture dealers, as well as through e-commerce Website. Herman Miller, Inc. was founded in 1905 and is headquartered in Zeeland, Michigan.

7,681 Employees
Last Reported Date: 07/31/18
Founded in 1905

herman miller inc (MLHR) Top Compensated Officers

Executive VP & CFO
Total Annual Compensation: $748.2K
President of North America Contract
Total Annual Compensation: $780.0K
Chief Creative Officer
Total Annual Compensation: $728.2K
Compensation as of Fiscal Year 2018.
herman miller inc
Herman Miller, Inc. Announces the Resignation of Brenda Freeman as Director

Herman Miller, Inc. announced that on May 16, 2019, the board of directors accepted the resignation of Brenda Freeman as a director. In accordance with the company’s Board Governance Guidelines, Ms. Freeman submitted her resignation as the result of her change in occupation. Ms. Freeman’s resignation as a director will be effective May 31, 2019.

Herman Miller, Inc. Announces Auditor Changes

On May 6, 2019, the Audit Committee of the Board of Directors of Herman Miller, Inc. elected to dismiss Ernst & Young LLP ('EY') as its independent registered accounting firm effective upon the filing of the company’s Annual Report on Form 10-K for the company’s fiscal year ending June 1, 2019. On the same date, the Audit Committee approved the appointment of KPMG LLP as its independent registered public accounting firm, contingent upon completion of KPMG LLP's acceptance procedures, for the fiscal year ending May 30, 2020.

Herman Miller Intends To Seek Acquisitions

Herman Miller, Inc. (NasdaqGS:MLHR) will look for acquisitions. Jeffrey M. Stutz, Executive Vice President and Chief Financial Officer said, "Going forward, we will continue to be acquisitive and be opportunistic and look for opportunities to plug-in products that we have as gaps in our portfolio as needed."

 

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Valuation MLHR Industry Range
Price/Earnings 15.6x
Price/Sales 0.9x
Price/Book 3.1x
Price/Cash Flow 15.3x
TEV/Sales 0.7x
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