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Exhibit 99.1
FOR IMMEDIATE RELEASE JULY 24, 2000
Heilig-Meyers Announces the Appointment of Donald S. Shaffer as Chief Executive
Officer
Richmond, Virginia, (NYSE:HMY) Heilig-Meyers Company today announced
that on Friday July 21, 2000, its Board of Directors appointed Donald S. Shaffer
to the position of President and Chief Executive Officer. Mr. Shaffer, who
joined the Company on April 1, 1999, as President and Chief Operating Officer,
will replace William C. DeRusha, who has held the position of Chairman and Chief
Executive Officer since 1986. The Company indicated that Mr. Shaffer would
immediately assume this role.
Heilig-Meyers is the Nation's largest retailer of home furnishings
and related items. As of June 30, 2000, the Company operated 873 stores: 813 as
Heilig-Meyers, 57 as The RoomStore and 3 as Homemakers. Visit the Company's
retail web sites at www.heiligmeyers.com and www.roomstore.com. For the latest
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corporate news visit www.hmyco.com. For information concerning Mr. DeRusha's
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departure as Chairman and Chief Executive Officer, see the Company's Form 8-K
filed with the Securities and Exchange Commission. The Company's Form 8-K may be
accessed at www.hymco.com.
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