Barrie Brown leaves as Mattress Giant CEO
Michael Glazer, former Bombay Company president, to replace him
David Perry -- Furniture Today, October 22, 2009
ADDISON, Texas — Former Bombay Company president Michael Glazer has been named CEO of Mattress Giant, the Top 100 company announced today. He replaces Barrie Brown, who has left the company.No reason for Brown's departure was given.
Brown was named CEO of Mattress Giant, based here, in September 2002. Before that he was at Sleep Country USA in Seattle.
The company said that Brown "was instrumental" in the success of Mattress Giant. "He played a pivotal role in positioning the company for acquisitions by Freeman Spogli and Co. and has been a vital contributor in our expansion," the company said in a statement.
Prior to his current position as president of Team Neu, a private equity firm established in 2005, Glazer for 10 years was CEO of KB toys, the nation's largest specialty toy retailer. Under his leadership, KB Toys expanded its store base from 1,000 to more than 1,600 stores and almost doubled sales to $1.8 billion.
Glazer was president of Fort Worth, Texas-based home furnishings retailer Bombay Company prior to his time at KB.
"I am excited and proud to be joining Mattress Giant and truly appreciate the confidence and ongoing support that our shareholders have shown," Glazer said. "I look forward to working with all our associates, vendors and customers to generate increased sales and profits."
Mattress Giant ranked 28th on Furniture/Today's Top 100 ranking this year, based on estimated 2008 sales of $255 million, down 4.5% from 2007 sales.
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Sorry David, this is once again a reporting style that belongs in an elementary school newspaper. It is one more nail in the coffin of making FT irrelevant. How about some analysis and commentary? Or are you afraid of losing advertisers?
Our industry seems to want to aim for a perfect record of recycling the most inept people who belong to the "In Club". Ron Jones led Masco and Manoogian into destroying the heart of the NC furniture industry and then became the "savior of Sealy". Bombay could not get mediocrity out of its goal sights for the last 20 years of its existence and no one there ever listened to intelligent alternative strategies. What has chewing gum brought to FBI?
Here we have one more interchangable part bureaucrat credentialed by big name companies which failed for using such uninventive approaches to business. Under this leadership the firms were incapable of changing with the changing market, let alone create new markets which their founders actually did in the first place.
The actions of people and companies like this will result in total off shore ownership of the North American home and contract furnishings industry. They have already given most of it away anyway---much to the despair of all the good people who have lost jobs which will never come back.
Robert Mar - 2009-22-10 19:03:12 EDT -
Bombay and KB- both bankrupt as I recall. When will we stop talking about sales growth and number of boxes and start talking about cash flow based on real profits that come as a result of clear innovation. While I wish them both the best of luck, let's start writing articles that talk about the cash flow and profit (total and store for store) and the increase in the market value of the company. While this is somewhat subjective, it is important. The sales numbers in the articles don't mean much if the company is not successful in the long run. As I said though, I wish them both well- Michael in his new role and Barry is a future role.
Paul Bumblauskas - 2009-22-10 17:28:29 EDT
Glazer CEO of Mattress Giant
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01/06/2008Mattress Giant ads: Time to 'Catch some Z's'
05/17/2003
