This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Leggett Announces Executive Promotions And Board Changes

CARTHAGE, Mo., March 4, 2013 /PRNewswire/ -- 

  • Karl G. Glassman is appointed President of the Company
  • Matthew C. Flanigan is appointed Executive Vice President
  • Board of Directors anticipates election of David S. Haffner as new Chair at May board meeting
  • Haffner, Glassman, and Flanigan execute renewed, 4-year employment agreements

Leggett & Platt's Board of Directors announced the promotion of two senior executives.  Karl G. Glassman is promoted to President of the company, and retains his current role as Chief Operating Officer.  Glassman has served Leggett & Platt as COO since 2006, as both Executive Vice President and a director since 2002, and in various management roles since 1982.

Matthew C. Flanigan is promoted to Executive Vice President, and retains his current role as Chief Financial Officer.  Flanigan has served Leggett & Platt as a director since 2010, as Senior Vice President since 2005, as CFO since 2003, and in other management roles since 1997. 

CEO David S. Haffner stated, "We are excited to have individuals of Karl's and Matt's caliber – extremely capable leaders with high integrity, determination, and keen business acumen – continue to lead our company. These two have been instrumental in helping orchestrate a significant change in the company's strategic direction, and have led our team to generate outstanding TSR(1) performance for our investors. We have high expectations of what they will continue to accomplish."

Furthermore, the Nominating Committee of the Board of Directors has recommended, and the full board anticipates, the election of David S. Haffner as Chair at the board's May meeting. Haffner has served Leggett & Platt as CEO since 2006, and will continue in that capacity; he has been a director since 1995, and held various management roles for three decades. Haffner would succeed Richard T. Fisher, whom the Nominating Committee recommended for election as Vice Chair and Lead Director. Fisher has been board Chair since 2008, served as Presiding Director from 2003-2008, and joined the company's board in 1972.

Haffner, Glassman, and Flanigan each executed renewed employment agreements with the company.  The new agreements expire in May 2017.

FOR MORE INFORMATION: Visit Leggett's website at www.leggett.com.

COMPANY DESCRIPTION: Leggett & Platt (NYSE: LEG) is a diversified manufacturer (and member of the S&P 500) that conceives, designs and produces a broad variety of engineered components and products found in most homes, offices, and automobiles. The 130-year-old firm is comprised of 20 business units, 18,000 employee-partners, and 130 manufacturing facilities located in 17 countries.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,912.11 -70.48 -0.42%
S&P 500 1,969.95 -8.96 -0.45%
NASDAQ 4,442.6980 -2.2110 -0.05%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs