LEXINGTON, Ky., March 18, 2014 /PRNewswire/ -- Tempur Sealy International, Inc. (NYSE: TPX), the world's largest bedding provider, today announced the retirement of Lawrence J. Rogers, President and CEO of Sealy Corporation ("Sealy") effective April 5, 2014. Mr. Rogers' leadership responsibilities will transition to Tim Yaggi, Chief Operating Officer and David Montgomery, Executive Vice President and President, International. The Company also announced that its Board of Directors has voted to expand its Board to eleven directors and elect Mr. Rogers to the Board of Directors effective March 27, 2014.
"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, Inc. "We are delighted that he will continue to provide his wealth of bedding industry experience as a member of our Board of Directors."
Under Mr. Rogers' leadership, Sealy significantly expanded its international operations and extended its brand reach globally. Mr. 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."