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From Home Furnishing Business

Rogers to Retire as President, CEO of Sealy

Larry Rogers, long-time president and CEO of mattress supplier Sealy, plans to retire next month.

His retirement is effective April 5.

Tempur Sealy International  (NYSE: TPX)  said Rogers' responsibilities will transition to Tim Yaggi, COO, and David Montgomery, executive vice president and president of Sealy International.

The company's board of directors has voted to expand the board to 11 directors and elect Rogers to the board effective March 27.

"On behalf of everyone at Tempur Sealy, I would like to thank Larry for his incredible loyalty, passion and leadership over the past 34 years at Sealy, as well as his invaluable contribution to the Tempur Sealy merger and integration efforts over the past year," said Mark Sarvary, president and CEO of Tempur Sealy International. "We are delighted that he will continue to provide his wealth of bedding industry experience as a member of our board of directors."

Under Rogers' leadership, Sealy expanded its international operations and extended its brand reach globally. Rogers was instrumental in building Sealy Canada into a market leader, leading Sealy's entrance into South America, and establishing joint venture agreements in China and other Asian markets. His focus on delivering innovative new product offerings also played a critical role in the resurgence of the Stearns & Foster brand and the recent success of the Sealy Posturepedic product offering.

"After more than three decades at Sealy, I have decided that the time is right for me to retire," Rogers said. "I've enjoyed working with Mark to forge a new, stronger company, and I am extremely optimistic about Tempur Sealy's future. I feel confident that by leading in innovation, customer service, quality and branding, Tempur Sealy will be unbeatable in the marketplace."

Rogers joined Tempur Sealy International, Inc. in March 2013 when the company acquired Sealy, and has served as Sealy's president and CEO since 2008. From December 2006 to 2008, Rogers was president of North America of Sealy and prior to that was president of Sealy International. Rogers joined Sealy in 1979 and has also served in numerous other capacities, including president of Sealy of Canada.

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