Palliser Furniture Named One of Canada’s Best Managed Companies

Palliser Furniture Named One of Canada’s Best Managed Companies

Winnipeg, MB – Wednesday, March 9, 2016

Palliser Furniture was named one of Canada’s Best Managed Companies in 2015 for business performance excellence. The Best Managed program recognizes Canadian-owned and managed companies with revenues over $10 million demonstrating strategy, capability and commitment to achieve sustainable growth.

“I would like to recognize the entire efforts of Palliser Furniture. It takes a dedicated effort from an entire team to focus on a core vision, create stakeholder value and excel in the global economy to achieve this level of success,” said Mike Runia, Ontario Managing Partner, Deloitte and Co-Leader, Canada’s Best Managed Companies program.

Established in 1993, Canada’s Best Managed Companies is one of the country’s leading business awards programs recognizing Canadian-owned and managed companies that have implemented world-class business practices and created product value in innovative and strategic methods. Applicants are evaluated by an independent judging panel on overall business performance including leadership, strategic planning, core competencies, cross-functional collaboration throughout the organization and overall management commitment and talent. Palliser was awarded this designation by submitting a comprehensive application package and by demonstrating that the company meets all of the criteria required. They also clearly demonstrated their ability to manage finances effectively and adapt to changing market conditions for a period of more than three years. Palliser is a Canadian-owned private company in operation since 1944, which is a significant example of their commitment to business excellence and longevity.

“CIBC congratulates Palliser Furniture on being named one of Canada’s Best Managed Companies – a reflection of its strong leadership, sound business planning and focus on growth,” said Jon Hountalas, Executive Vice-President, Business and Corporate Banking, CIBC. “We’re proud to celebrate this outstanding achievement and applaud the entire team for their contributions to the Canadian marketplace.”

“We are so honored to have been selected to receive this designation as one of Canada’s Best Managed Companies,” said Palliser Furniture’s President and CEO, Cary Benson. “Working through the nomination process to participate in this competition was a good learning experience for our company. We brought together a team of people from several different parts of our business and all worked closely together to prepare the submission. We are very pleased to have been chosen and sincerely thank the sponsors for awarding this to Palliser.”

Jeff R. Martin, the Deloitte coach assigned to Palliser’s submission says; “Palliser demonstrates a strong focus on building a successful strategy, developing high capabilities to compete, and benefit from the outstanding commitment of its people.”

2015 winners of the Canada’s Best Managed Companies award, along with Requalified, Gold Standard, Gold Requalified winners and Platinum Club members will be honored at the annual Canada’s Best Managed Companies gala in Toronto on April 12, 2016. On the same date, the Best Managed symposium will address leading-edge business issues that are key to the success of today’s business leaders.

The Best Managed program is sponsored by Deloitte, CIBC, National Post, Smith School of Business and MacKay CEO Forums.

About Canada’s Best Managed Companies

Canada’s Best Managed Companies continues to be the mark of excellence for Canadian-owned and managed companies with revenues over $10 million. Every year since the launch of the program in 1993, hundreds of entrepreneurial companies have competed for this designation in a rigorous and independent process that evaluates their management skills and practices. The awards are granted on five levels: 1) Best Managed winner (one of the new winners selected each year); 2) Requalified member (repeat winners retain the Best Managed designation for two additional years, subject to annual operational and financial review); 3) Gold Standard winner (After three consecutive years of maintaining their Best Managed status, these winners have demonstrated their commitment to the program and successfully reapplied for the designation); 4) Gold Requalified member (Gold Standard winners may requalify for two additional years, subject to annual operational and financial review); 5) Platinum Club member (winners that maintain Best Managed status for a minimum of six consecutive years). Program sponsors are Deloitte, CIBC, National Post, Smith School of Business and MacKay CEO Forums. For further information, visit www.bestmanagedcompanies.ca.

About Palliser Furniture

Palliser is a leading manufacturer of made-to-order leather and fabric upholstered furniture with manufacturing facilities in Canada and Mexico. Palliser produces a full range of upholstered products in leather and fabric including Stationary, Motion, Sectionals and Recliners and is the industry leader in the Home Theater Seating category. The designs range from transitional to the latest trends in contemporary styling, and many provide configurable piece options and innovative features. Palliser offers over 300 cover choices and the majority of products are available in all covers. The unique strength of Palliser is its ability to produce its full complement of products within North America and deliver quality custom furniture on time.

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