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From Home Furnishing Business
Marketing Chief Leaves Tempur Sealy
February 21,
2017 by Larry Thomas in Executive Changes, Industry 
Jay Spenchian, chief marketing officer at Tempur Sealy International (NYSE: TPX), is leaving the company on Feb. 28, the bedding producer said in a Securities and Exchange Commission filing.
No reason was given for his departure, but the filing said Spenchian would serve as a consultant to the company for six months after his departure and will be paid $37,500 per month.
His separation agreement also includes 12 months’ severance pay, payment of his 2016 performance bonus and the pro-rated portion of his 2017 performance bonus if the company reaches its performance goals.
"Jay Spenchian has been a valued member of the senior leadership team since he joined the Company several years ago," said Scott Thompson, chairman and CEO of Tempur Sealy. "I would like to thank Jay for his contributions, and we wish him well as he pursues the next stage of his career."
Spenchian joined the company in December 2014.