Steve Stagner named CEO, Gary Fazio chairman of Mattress Firm
Houston retailer continues to focus on growth
David Perry -- Furniture Today, February 11, 2010
 Steve Stagner |
HOUSTON — Specialty bedding retailer Mattress Firm has promoted Steve Stagner to president and CEO and elevated Gary Fazio to chairman of the board.
The changes are part of a succession plan that was put into place in 2007. Stagner now assumes leadership of day-to-day operations of Mattress Firm, while Fazio, formerly CEO, will focus on strategic growth opportunities.
Fazio joined Mattress Firm in 2001 and guided the retailer from a regional player to one of the nation's largest multi-brand mattress retailers, more than tripling the store count. Mattress Firm has annual sales of more than $500 million.
"In January 2007, we began a process designed to empower our key leaders to accelerate Mattress Firm's growth objectives and move the company into a leadership position in the industry," said Fazio. "That aggressive approach has allowed us to grow quickly yet strategically and establish ourselves as an industry leader. We have a strong foundation, a proven retail model, and a great team for future growth and Steve is the perfect leader to execute on this opportunity."
 Gary Fazio |
Stagner has been with Mattress Firm since 2005, when the retailer acquired his franchise group, Mattress Firm Elite.
Named president in 2006, he has played a leadership role in areas including operations, merchandising, sales and marketing and training, as well as real estate, where he led the creation of a proprietary, metrics-based decision-making program that has become a model in the specialty retail industry.
Stagner began his career on the manufacturing side of the bedding industry before opening his first Mattress Firm franchise store in 1996 in Atlanta. He and his team built the franchise group to become the company's largest, with 50 stores in six markets and over $60 million in sales.
"In the last three years we have made six acquisitions, opened five new markets, and opened more than 200 stores under the Mattress Firm banner," said Stagner. "We gained market share during the downturn. I am looking forward to my expanded role with Mattress Firm and to the challenges of maintaining an aggressive growth strategy while also continuing to provide our customers with the unmatched shopping experience that has defined Mattress Firm. I have never been more excited about our potential."
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