TRINITY, N.C., Dec. 13, 2011 /PRNewswire/ -- The Board of
Directors of Sealy Corporation (NYSE: ZZ) today announced that
Lawrence J. Rogers, the Company's
President and Chief Executive Officer, will retire next year after
a 33-year career at the company. Mr. Rogers, 63, will
continue to lead the Company until a successor is appointed.
"On behalf of the Board and everyone at Sealy, I would like to
thank Larry not only for his leadership, but also for the
dedication and commitment that he has given to Sealy for over 30
years," said Paul J. Norris,
Non-Executive Chairman of the Sealy Board of Directors.
"During his tenure as CEO, he has guided the company through some
of the most tumultuous times that we have seen in both the industry
and the U.S. economy, while advancing Sealy's status as the
preeminent mattress company in the world. We appreciate his
countless contributions over the years."
During his more than 30 years with Sealy, Mr. Rogers helped to
build the company's international business and increased the
strength and reach of the Sealy brand around the world. The
Sealy brand is now sold in more than 40 markets globally and holds
the #1 market share in the U.S., Mexico and Canada, where Mr. Rogers spent fifteen years
in various senior leadership roles. Mr. Rogers also played a
critical role in entering the China market, establishing a joint venture
system in Asia and building the
Company's first plant in China,
and he led the company's entry into South America.
As a veteran of the industry, Mr. Rogers established deep and
robust relationships across the global bedding industry, including
both the retail and supplier communities. As CEO, he guided
the company through the most significant decline ever experienced
by the bedding industry, stabilizing the business and leading the
successful refinancing of the company in 2009. He also
focused the Sealy team on delivering innovative, new product
offerings, including the development and growth of the Stearns
& Foster line.
"After more than three decades at Sealy, I have decided that the
time is right for me to retire, knowing that I will leave a company
that is well-positioned, despite the ongoing difficulties in the
macroeconomic environment. I am proud to have been a part of
this great company and to have played a role in Sealy's expansion
across the U.S. and worldwide," said Lawrence J. Rogers.
"Together we have built a strong portfolio of brands under the
Sealy umbrella and I am confident that our team will continue to
build on that strength in the future. I look forward to
working with the Board of Directors, my successor and the rest of
the Sealy team to ensure a seamless transition," he added.
The Board of Directors has formed a search committee and intends
to conduct a thoughtful and rigorous process to identify a new
CEO. The Board has also retained an executive search firm to
advise the Board on potential candidates. Once the new CEO is
appointed, Mr. Rogers will step down from the Board.
About Sealy
Sealy owns the largest bedding brand in the world, with sales
of $1.2 billion in fiscal 2010. The Company manufactures
and markets a broad range of mattresses and foundations under the
Sealy(R), Sealy Posturepedic(R), Sealy Embody(TM), Stearns &
Foster(R), and Bassett(R) brands. Sealy operates 25 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 approximately 3,000 customers with more than
7,000 retail outlets. Sealy is also a leading supplier to the
hospitality industry. For more information, please
visit http://www.sealy.com/.
Notes to editors
- Mr. Rogers joined Sealy on September 1,
1979 as Sales Manager of the Winnipeg facility. In 1980 he was
promoted to General Manager of this facility.
- From 1981, he held various senior management roles in
Canada, rising to President,
Canada in March 1988.
- Mr. Rogers became Vice President, International in 1994 and
Corporate Vice President/General Manager, International Group in
1998.
- He was promoted to President, International Bedding Group in
2001 and to President, North
America in 2006.
- In 2008, he was named President and Chief Executive Officer of
Sealy Corporation.
SOURCE Sealy