Serta Simmons’ Fazio to Retire

July 22, 2015  by in Executive Changes, Industry   

The last day for Fazio, who has been in the bedding industry for 44 years, will be Dec. 31.

Fazio was named CEO of of the company in October 2013. Prior to the creation of SSB, in his role as CEO of Simmons Bedding Co., he helped the company increase sales and market share, led a rebranding and advertising effort, and implemented an expansion of product lines. His career in the bedding industry includes leadership roles in manufacturing and retail sales having served as CEO and chairman of the Mattress Firm for nearly a decade and at Sealy for more than 20 years.

“I have enjoyed a very gratifying career in the bedding industry, especially these last few years of transformational change at SSB, which today is an innovative company poised to bring its two iconic brands, Serta and Simmons, to even greater success,”  Fazio said. “I am deeply grateful to my colleagues, the board, our employees, customers and partners for the opportunity to lead the company, and now I am looking forward to taking full advantage of my retirement.”

The board of directors intends to name Michael Traub, president of Serta International, CEO of SSB, effective Jan. 1. In order to facilitate the transition until then, Traub has been appointed to the newly-created position of president of SSB, effective immediately.

In other executive changes, the company has named Simmons Bedding President Tony Smith to the newly created position of president of sales for SSB.

During Traub’s interim role as SSB president, he will oversee the sales function as well as the Serta and Simmons brand marketing and product development functions, domestically and internationally. In his new position, Smith will provide leadership and strategic direction to both the Serta and Simmons sales organizations.

“Together with the board, I am confident in Michael’s ability to take the helm of the company at the start of next year,” Fazio said. “He is a skilled executive who has demonstrated his leadership and operational capabilities across a range of functions and his consumer product expertise will be an asset to the company.”

Smith has 32 years of sales and marketing leadership experience.

His “leadership experience will be invaluable to the Serta and Simmons brands as we seek to maximize the ways in which we service our customers more strategically and holistically,” Fazio said.

The headquarters of both Serta and Simmons will remain in their current locations in Hoffman Estates, Ill., and Atlanta, respectively. Serta and Simmons will continue to operate as separate brand units. Effective immediately, the units will be led by the marketing leaders of each brand - Andrew Gross, senior vice president of Serta and Jeff Willard, executive vice president of Simmons.