Restonic names new board
By David Perry -- Furniture Today, February 12, 2007
Palatine, Ill. — Top 15 bedding producer Restonic has restructured its board of directors and has elected all new members.
The new board has been expanded to five members, all with mattress industry experience, the company said.
The new members are Tom Comer, CEO of Sleep Alliance, a major shareholder of Restonic; Daniel Kantor, former owner of Royal Bedding, one of the founding Restonic licensees; Lee Quinn, CEO of Sleep Products, a long-term Restonic licensee and a large shareholder; Steve Russo, formerly president of Consolidated Bedding, a Spring Air licensee; and Adam Weinman, a retailer and former group vice president of Orthomatic Adjustable Beds.
Unlike previous Restonic boards, made up exclusively of directors with no equity interest in the business, the new board includes members who are also Restonic shareholders, the company said.
"We are pleased to attract high-caliber businessmen and to elect shareholders to our board," said Comer.
"The composition of our new board will enable Restonic to gain and maintain a leadership position in the industry. Great opportunities exist for a strong, national alternative brand called Restonic Mattress."
The new board replaces a two-member board that consisted of Tony Weiler, chairman, and Mark Heatwol. They are no longer affiliated with Restonic.
Kantor, who was elected chairman of Restonic's board, is executive director for the Jewish Federation of Buffalo, N.Y. Prior to that, he ran a law firm in Buffalo. From 1970 to 1996 he was the owner of Royal Bedding of Buffalo, N.Y.
Royal was one of the founding Restonic licensees in 1938.
Comer entered the mattress industry in 1992 and purchased Royal Bedding in 1997.
Quinn is based in New Albany, Ind. Sleep Products has been a Restonic licensee since 1958. He began his career in the family-owned business in 1978.
Russo is president of Apollo Solutions, an interim management consulting firm based in Florida. His prior industry experience includes working as president and chief operating officer of Consolidated Bedding, and president and CEO of Latex International, a supplier of latex mattresses and pillows.
Weinman owns The Perfect Piece, a retail furniture business in Houston. Earlier, he was group vice president of Orthomatic Adjustable Beds, a Leggett & Platt company. Orthomatic, based in Tampa, Fla., is a supplier of adjustable bases to the mattress industry.
