Mattress Firm's Stagner, Fazio in new posts
By David Perry -- Furniture Today, February 15, 2010
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.
Earlier, the retailer also announced that Harry and Charlie Roberts, who helped lay the foundation for the growth of Mattress Firm, have rejoined the company to help manage its growing franchise program. The Roberts brothers had left the company almost a decade ago.
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 to more than 500 units in 38 markets. 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.”
Stagner has been with Mattress Firm since 2005, when the retailer acquired his franchise group, Mattress Firm Elite. He was named president in 2006 and 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.
Fazio said the Roberts brothers “have a tremendous amount of experience in driving growth through franchising” and will be valuable to the company's franchise development team. Harry Roberts was one of the founders of Mattress Firm. Charlie joined the company a short time later.
In addition to helping manage the company's franchise program, the Roberts brothers said they will launch a Mattress Firm franchise operation. They did not disclose the location.
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