Russo retiring from Latex Foam
By David Perry -- Furniture Today, May 3, 2004
SHELTON, Conn. — SHELTON, Conn. — Steve Russo, who brought Latex Foam International back to life from the ashes of a devastating fire, is moving on to an even more important task: Putting his personal life in balance.
Russo has resigned as president and CEO of North America's largest supplier of latex mattress components to spend more time with his family and to pursue other interests.
"For over three and a half years, I have been commuting weekly between my home in Florida and LFI's headquarters in Connecticut," said Russo, 47. "My family is well situated in Florida. Everyone is there, and I need to be there, too."
Russo, who leaves LFI at the end of May, said he will explore business opportunities in Florida, closer to his Apollo Beach home. He isn't ruling out another job in the home furnishings industry.
"I have found the furniture and bedding industries very exciting," he said.
He described the process of rebuilding Latex Foam, destroyed by a fire in 2001, as "intense and rewarding." Spending workweeks away from his family enabled him to devote his full time and attention to the task, he said.
LFI rebuilt in Shelton and opened a new factory there a year after the fire. The company has ramped up production and is aggressively building its business. Russo said LFI is "on very solid footing" today, and the outlook is positive.
"I have every confidence that this management team and the new CEO will bring this company to the next level," he said.
Rick Sowerby, who has been appointed interim president at LFI, praised Russo for his commitment to the company.
"We appreciate Steve's need to be with his family and will certainly miss his leadership," he said. "His drive and commitment to the business were unmatched. LFI is a strong and profitable company with a bright future."
