Bedding source Southerland realigns management

Steve Russo named CEO and COO as David Corbin leaves

David Perry -- Furniture Today, July 15, 2011

Steve Russo

Russo, who remains chairman of the board, assumes executive responsibilities formerly held by David Corbin, who has resigned from Southerland to pursue an opportunity in another industry, the company said.

Russo and Corbin had been co-presidents at the company, an unusual arrangement in the home furnishings industry. The two helped lead a transition at the company last year from family ownership to an Employee Stock Ownership Plan.

Southerland also announced that Bryan Smith, formerly executive vice president and chief financial officer, has been appointed president and CFO at the company. He also has been elected to the board of directors.

Also, Scott Miller has been appointed executive vice president of the company, broadening his responsibilities to include marketing services in addition to sales. Miller had been EVP of sales.

"Our executive team has an excellent balance of customer focus, industry experience, product and market knowledge and operational skills," said Russo, a bedding veteran who formerly held executive positions with Latex International, Consolidated Bedding and Restonic. "We are well positioned to execute our business model and create meaningful customer value."

He said that Corbin had resigned as an officer, director, ESOP committee member and employee of the company and its related companies effective July 8.

"We have appreciated David's leadership and vision, which has taken the company forward, and wish him well in his future endeavors," Russo said.

Based in Nashville, Southerland has facilities there and in Oklahoma City and Phoenix. The company is one of the largest independent bedding producers in the country.