David Binke Named CEO at King Koil

September 7, 2017  by Larry Thomas in Executive Changes, Industry   

Binke is filling a role that had been vacant since the departure of interim CEO Teck Hong Goh in 2015. Owen Shoemaker, the company’s chief operating officer who had assumed many CEO duties during this time, will remain with the company.

The move is a homecoming of sorts for Binke, who was executive vice president of sales at King Koil from 2007 to 2012, when he left to join Kluft -- first as president of North American sales and marketing and later as CEO.

“We are very happy to have David return to King Koil to help us grow and strengthen our brand. His exceptional vision and sales leadership will be key components of our growth strategy both in the United States and abroad,” said Jin Hoe Yeoh, chairman of King Koil. “I want to personally thank Owen, who has been a great steward of our brand, especially given the various challenges in the last 12 to18 months. We look forward to his continued contributions to our brand.”

Binke began his mattress industry career in buying and management positions with a number of well-known department stores. He also spent more than a decade as executive vice president of sales for Spring Air, where he also held an ownership position in the company’s largest licensing group.

“King Koil is one of the oldest and most respected mattress brands in the industry. This was a unique opportunity for me to lead one of the biggest names in the mattress industry. For my family, it also meant my ability to be closer to home in Chicago, something which we all welcomed,” said Binke.

“There is a tremendous opportunity for us to grow and expand the King Koil brand, and I look forward to working closely with our licensees, dealers and corporate staff to expand our business in the United States and internationally.” 

King Koil is based in the Chicago suburb of Willowbrook, Ill., and Spring Air was based in the Chicago area during Binke's tenure there.

E.S. Kluft & Co. said Alain Rauh, a longtime executive with The Flex Group, Kluft's parent company, will serve as acting CEO while the company searches for Binke's replacement.

Rauh led the Flex team that navigated the acquisition of Kluft, playing a key role in the integration, strategy development and relationships with key customers, vendors and suppliers.

“We have a very strong leadership team that has worked closely together for many years, and a proven business plan that has benefitted our customers, suppliers and employees. This transition should really be quite seamless,” said Rauh. 

The company produces the high-end Kluft and Aireloom brands.

Flex Group Chairman and CEO Rafael González said, “The Kluft and Aireloom brands have been growing very robustly in the U.S. and internationally, and we expect that pace to continue with the strong leadership team we have in place and based on the long-term relationships they have with customers and clients.

"We have begun a search for a new leader for the business, but are already seeing the senior leadership team come together to continue to execute our business plan. I am grateful to Alain for assuming these additional duties on an acting basis and David for his work with us these past few years.”