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Magnussen Promotes Bruce Ballantyne to CFO

Furniture World News


Bruce Ballantyne has been promoted to chief financial officer for Magnussen Home Furnishings, Inc. A 19-year veteran and member of the company’s senior management team, he will report to Richard Magnussen, chief executive officer and president of Magnussen Home. In an expansion of his responsibilities, Ballantyne will oversee the company’s corporate assets, as well as provide effective financial decision-making to ensure continuous improvement in the company’s profits. “Bruce has a broad understanding of the furniture business and a great analytical mind,” Magnussen says. “Although his title is CFO, he brings a big picture perspective of the industry to every decision we make and is an invaluable resource to our company on many levels other than just finance.” Ballantyne joined Magnussen Home in 1988 as vice president, finance and administration where he guided the company’s first corporate computer system implementation and helped lead the company’s expansion into U.S. markets. In his role as vice president, he developed the company’s human resources department across all locations, and created a company profit sharing plan. Ballantyne also championed several critical company systems, including the sales and operations planning system, the business intelligence reporting system, and the company’s Balanced Scorecard strategic planning program. Prior to joining Magnussen Home, Ballantyne was the corporate controller for Roxton Furniture Ltd. A 1979 graduate of the Canadian University of Waterloo with a bachelor’s of mathematics, Ballantyne obtained his chartered accountant designation in 1980. Magnussen Home Furnishings, Inc. designs, imports, and distributes medium-and upper-medium-priced occasional tables, accent furniture, bedroom, dining room and home entertainment furniture across all style categories for retailers around the world. The company brings more than 20 years of experience with offshore sourcing focused on quality control of state-of-the-art technology, workmanship, finishing and timely delivery. Magnussen Home has permanent showrooms in High Point, Toronto and Las Vegas with state-of-the-art warehouses and distribution centers in Riverside, Calif. and Ho Chi Minh City, Vietnam. Its U.S. Sales and Marketing Offices are located in High Point, N.C. The Canadian company is headquartered in New Hamburg, Ontario.