Interim Sealy CEO: Rollout of Posturepedic going well
By David Perry -- Furniture Today, April 27, 2008
Archdale, N.C. — Sealy is accelerating the rollout of its new flagship Posturepedic line, introduced with much fanfare earlier this year, the company's interim CEO says.
Larry Rogers, 59, named interim CEO last month following the sudden departure of longtime Sealy executive Dave McIlquham, talked about the Posturepedic launch and other key items on his agenda in an interview at his office here.
The new Posturepedic line was designed to eliminate tossing and turning caused by pressure points, thereby giving consumers a better night of sleep, the company said. Sealy launched the line at the Las Vegas Market in January with a high-profile introduction and followed it up with another showing at the High Point Market this month.
Rogers said the rollout "is going very well. The initial response has been most encouraging from the retailers."
Sealy has compressed the rollout phase to speed the transition at retail from the old Posturepedic line to the new one. "We are on track to roll the new line out twice as fast as we did the 2006 Posturepedic line," Rogers said.
That is important, he added, because retailers are "uncoupled" from the company's flagship line during the transition period. "They can't remain uncoupled for a long time," Rogers said.
With the accelerated rollout, the Posturepedic line will be in place at retail in the June–August period, a peak time for mattress sales.
Asked to list his agenda at Sealy, Rogers said: "My first priority must be getting the internal alignment recalibrated, getting a focus on the new Posturepedic line, and getting it rolled out."
He said "recalibrating" involves "bringing to bear all the resources we have on the job."
As Sealy navigates through a challenging business climate, one in which its sales have slumped, Rogers said the company must concentrate on the fundamentals of running its business. "This is a time to do common things uncommonly well," he said. "I am focused on doing that, making sure we are not missing the basics."
Sealy is searching for a permanent successor to McIlquham, who was president, CEO and chairman. "The board has a fiduciary responsibility to research the market and put the best person they can in the job," Rogers said. "The board is doing the right thing."
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Sealy accelerating Posturepedic rollout
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