H Partners Management, LLC ("H Partners"), the largest shareholder of Tempur Sealy International, Inc. (the "Company" or "Tempur Sealy") (NYSE: TPX) with an approximate 10% stake, today announced that Egan-Jones, a leading independent proxy advisory firm, has issued a report recommending that Tempur Sealy shareholders vote "AGAINST" the re-election of the following directors at the 2015 Annual Meeting of Shareholders to be held on May 8, 2015:
- Mark Sarvary, President and Chief Executive Officer
- P. Andrews McLane, Chairman of the Board
- Christopher A. Masto, Chairman of the Nominating and Corporate Governance Committee
- "…CEO Mark Sarvary should be held to account for the poor performance of the company and that the current board has failed to do so."
- "…we believe that voting 'AGAINST' management nominees is in the best interest of the Company and its shareholders. We believe that the post-merger company that exists today is a much more complex firm than the pre-merger company of a few years ago. We believe a board must hold a CEO accountable for the company's performance or lack thereof. We recommend supporting H Partners' vote AGAINST the management nominees they have named, Messrs. Masto, McLane and Sarvary."
Additional information can be found at: www.FixTempurSealy.com .If you need assistance in voting your shares or have other questions, you can contact Innisfree M&A Incorporated, H Partners' proxy solicitor, at (212) 750-5834. About H Partners Management H Partners Management, LLC is an independent investment firm founded in 2005 based in New York City. * Permission to quote third party reports and analysis was neither sought nor obtained.