Sealy Names Larry Rogers as President and Chief Executive Officer
* Reuters is not responsible for the content in this press release.
TRINITY, N.C., July 22 /PRNewswire-FirstCall/ -- Sealy Corporation (NYSE:
ZZ) announced today that Lawrence J. "Larry" Rogers has been named as the
Company's President and Chief Executive Officer, effective immediately. Mr.
Rogers has served as interim CEO since March 12, 2008. Since joining Sealy in
1979, Mr. Rogers has held various roles within the organization including his
most recent position as President of Sealy North America, which he has held
since December 2006, as well as President of Sealy International and President
of Sealy Canada.
Paul Norris, Sealy's Chairman of the Board stated, "The Board has
conducted a thorough search and we were extremely impressed with the number
and quality of candidates that were put forward for consideration. After
careful review, the Board determined that Larry possesses the most unique and
compelling set of skills and qualities to lead the Company. With over thirty
years of experience in the bedding industry, including serving as the
President of Sealy's International and North American businesses, and most
recently as interim CEO, he has established solid customer relationships and a
deep understanding of our Company and the industry. Larry has proven through
his leadership in executing the launch of the new Posturepedic innerspring and
PurEmbrace Smart Latex lines, as well as instituting a more diligent focus on
controlling costs throughout the organization, that he is the right person to
lead this Company."
Mr. Rogers commented, "I am pleased to be taking on the role of Sealy's
President and Chief Executive Officer. We have a strong management team in
place, and we will remain focused on making further progress on our strategic
initiatives, including completing the rollout of our new product lines,
driving ongoing new product innovation, and continuing to streamline our cost
structure as we become a leaner organization. I am confident that these
actions will strengthen our position as the market share leader in the
industry with even stronger growth potential."
About Sealy
Sealy is the largest bedding manufacturer in the world with sales of $1.7
billion in 2007. The Company manufactures and markets a broad range of
mattresses and foundations under the Sealy(R), Sealy Posturepedic(R), Stearns
& Foster(R), and Bassett(R) brands. Sealy operates 26 plants in North America,
and has the largest market share and highest consumer awareness of any bedding
brand on the continent. In the United States, Sealy sells its products to
2,900 customers with more than 7,000 retail outlets. Sealy is also a leading
supplier to the hospitality industry. For more information, please visit
www.sealy.com .
This document contains forward-looking statements within the meaning of
the safe harbor provisions of the Securities Litigation Reform Act of 1995.
Terms such as "expect," "believe," "continue," and "grow," as well as similar
comments, are forward-looking in nature. Although the Company believes its
growth plans are based upon reasonable assumptions, it can give no assurances
that such expectations can be attained. Factors that could cause actual
results to differ materially from the Company's expectations include: general
business and economic conditions, competitive factors, raw materials
purchasing, and fluctuations in demand. Please refer to the Company's
Securities and Exchange Commission filings for further information.
SOURCE Sealy Corporation
Investors: Mark D. Boehmer, VP & Treasurer, +1-336-862-8705, Media: Michael
Fox, +1-203-682-8218, both of Sealy Corporation
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.



Follow Reuters