Lorelli leaving Latex International
Gary Evans -- Furniture Today, November 19, 2006
Shelton, Conn. — Mike Lorelli has resigned as president and CEO of latex foam supplier Latex International to pursue other interests.
Kevin Stein, vice president of marketing, said the company's board of directors plans to form a search team to select a new CEO.
Lorelli joined Latex International as president and CEO in mid-2004 after a 10-year career with private equity-based companies experiencing rapid growth or requiring a turnaround. Earlier, he was a top executive at PepsiCo and its Pizza Hut International division.
"Having accomplished what I intended to do, I am looking forward to my next challenge," Lorelli said in a company news release announcing his departure.
He said that with "strong sales growth, improved quality and customer service levels and upgraded R&D capabilities, the future of Latex International is bright."
John Pouschine, chairman of Latex International and co-founder of Pouschine Cook Capital Partners, the company's major shareholder, said he will work with the company's management team throughout the transition.
"While we are disappointed by the departure of Mike, we respect his desire to seek his next challenge," said Pouschine.
Latex International is the only U.S.-based Talalay latex foam producer, and the largest supplier of latex mattress components and pillows in North America.
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Latex International president, CEO resigns
Nov 14, 2006
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