Passaglia steps down as Verlo president
Larry Thomas -- Furniture Today, September 16, 2001
WHITEWATER , Wis. — Ron Passaglia, the bedding industry veteran who joined Verlo Mattress Factory Stores last year, has resigned as president of the factory-direct retailer.
Passaglia, who had been Verlo's president since May 2000, said his departure was amicable and indicated he may continue to work for Verlo as a consultant or serve on its board of directors.
"It's still a very viable distribution channel for consumers," he said of the factory-direct concept.
Passaglia said his principal reason for stepping down was differences with senior management over the implementation of Verlo's growth strategy.
Verlo, which had sales of $47.2 million last year, has about 70 stores in 12 states.
Passaglia, who worked at Simmons Co. for 26 years until resigning during a November 1999 management shakeup, said he hopes to remain in home furnishings.
Verlo officials said there are no immediate plans to replace Passaglia. Dave Young, president of Verlo's parent company, VyMaC Corp., is now president of Verlo and its parent.
| Passaglia |
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