Russo resigns from Latex Foam International
Jerry Epperson -- Furniture Today, April 19, 2004
Steve Russo has resigned as president and CEO of Latex Foam International to spend more time with his family and pursue other interests.
Russo led the company in rebuilding its business and opening a modern manufacturing facility here just one year after a fire destroyed its Ansonia plant, according to the company.
"The primary driver for my departure is personal life balance. For over three and a half years, I have been commuting weekly between my home in Florida and LFI's headquarters in Connecticut," said Russo. "The rebuild was an intense and rewarding process, and I couldn't be more proud of this organization. I have every confidence that this management team and the new CEO will bring the company to the next level."
Rick Sowerby has been appointed interim president during the transition period while an outside search for a successor is completed by executive search firm Christian & Timbers.
Sowerby joined Latex Form in September 2002 as chief financial officer. He spent six years with Sealy in various executive management positions prior to joining LFI. In addition, Pouschine Cook Capital Management, a private equity firm in New York and majority shareholder of Latex Foam, will work with the company's management team through the transition.
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