Larry Rogers to Retire from Sealy

December 12, 2011  by in UnCategorized   

By Home Furnishings Business in Bedding on December 13, 2011 After a career that spanned more than 30 years with Sealy Corp. (NYSE: ZZ), Larry Rogers will retire as the company's president and CEO next year.

Rogers, 63, will continue to lead the company until a successor is appointed, and the board of directors has formed a search committee to seek to fill the post.

"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 33 years with Sealy, Rogers helped to build the company's international business and increased the strength and reach of the Sealy brand around the world. The brand is now sold in more than 40 markets globally and holds the No. 1 market share in the U.S., Mexico and Canada, where Rogers spent 15 years in various senior leadership roles. 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. He also led the company's entry into South America.

As a veteran of the industry, Rogers established relationships across the global bedding industry. 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 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," Rogers said. "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."

In addition to the search committee, the board has retained an executive search firm to advise the board on potential candidates. Once the new CEO is appointed, Rogers will step down from the board.