Fabric manufacturer Culp, Inc. announced Thursday that its board of directors has named Robert Culp as chief executive officer.

Culp will succeed current CEO and chairman Franklin Saxon, who will now serve as the company’s executive chairman.

“We are very pleased to announce this planned transition for the executive leadership of Culp, which is consistent with our corporate strategic plan” said Saxon. “Culp is a proven leader and brings the right complement of operational experience and strategic insight to this position.”

Robert Culp is the son of company founder and former CEO Rob Culp, who died in December. Saxon became CEO after the elder Culp stepped down from the role in 2007.

“It is an honor to assume this new leadership role with Culp,” Robert Culp said. “I am especially proud to carry on the legacy of my father and grandfather, who founded and built a company known for innovation and an unwavering commitment to both our customers and shareholders.”

The High Point-based company is a manufacturer and supplier of mattress and upholstery fabric, with facilities in the U.S., Canada and China.

Shares of Culp were trading at $16.75 Friday, up 16 cents.