Simmon’s New CEO Seek to Restore Focus

Simmons' new CEO, Gary Fazio, said that the sleep products’ company has to ‘restore the focus’ to become a more competitive company. Fazio outlined the leadership strategy he will adapt for the company he recently joined. He told Furniture/Today that Simmons has to be more revenue-focused than it has been in the past.

The bedding company’s sales decreased by 13.2% last year, the biggest decrease for a major brand. Simmons eventually filed for Chapter 11 bankruptcy protection. Ares Management and the Ontario Teachers’ Pension Fund, which also owns Serta, acquired Simmons last year and asked Fazio to be the company’s CEO.

Fazio says that Simmons’ new Beautyrest Black and ComforPedic lines that will come out for the first time at the Las Vegas Market are strong product offers. He adds that he will remain with the company until he has restored focus, built the market share, and have Simmons run well even without him.

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Simmons Co. has New CEO

Simmons Co., a manufacturer of sleep products, has named Gary Fazio, a mattress industry veteran, as its new CEO. Fazio worked at Mattress Firm since 2001 up to his appointment at Simmons Co. He replaced Steve Fendrich, who has been Simmons’ CEO since 2008.

Fazio is taking over management of the company after it came out of its Chapter 11 bankruptcy protection. The owners of Serta, last year’s number 2 mattress brand, acquired Simmons Co. this year. Simmon Co.’s US sales from 2009 amount to $858 million.

While Fazio was with Mattress Firm, the company turned from being a regional company to the second largest bedding specialty chain. The company now has stores in 22 states.

Fazio says he is thrilled to be joining Simmons while the company is enhancing its brand. He adds that the company’s opportunities are broad and that he looks forward to joining the leadership team. Simmons Co.’s new CEO will be based in Atlanta.

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