a revolutionary chair that both rocked and reclined. It was the first of its kind and soon the company couldn't seem to make enough to keep up with growing consumer demand.
Between 1961 and 1971, this chair alone boosted La-Z-Boy sales from $1.1 million to $52.7 million. While Neil Armstrong walked on the moon, the folks in Monroe were walking on air. Business was booming and soon the modest little furniture company found itself the envy of the industry. In 1972, Edward passed the company
baton to his son, Charles T. Knabusch, who took over as president and later as chairman and chief executive officer.
Under this new leadership, the company continued to grow and thrive and in March of that year, it went public. Six hundred people bought more than 320,000 shares in over-the-counter trading. By the end of the decade, La-Z-Boy was enjoying annual sales of more than $152 million.