Linwood, Pennsylvania-Foamex International Inc. has appointed former chief executive officer John Johnson Jr as its new ceo and board member.
Johnson was previously Foamex ceo from 1999 to 2001, a period when it "enjoyed then historic levels of profitability and growth," pointed out Eugene Davis, non-executive board chairman, in a 16 April Foamex announcement.
Davis was appointed at the same time and, along with Johnson, replaces Ray Mabus, who steered Foamex through its period of Chapter 11 bankruptcy protection, and its mid-February 2007 emergence from Chapter 11. Mabus has resigned as ceo and chairman to return to his home in Mississippi, Foamex added.
Welcoming Johnson back to Foamex, Davis said, "Jack is a proven leader who brings to Foamex an ideal combination of skills and experience." The board expects Foamex to benefit from Johnson's intimate knowledge of the company and industry experience," Johnson added.
"Foamex is an established leader in the polyurethane foam manufacturing industry, and I am very pleased to be returning to the company," said Johnson, in the company announcement. Johnson added that he is looking forward to leading Foamex as it grows, and to implementing its strategy "of being a market-focused provider of polyurethane foam-based solutions and specialty comfort products."
Davis thanked Mabus for his "significant contributions to Foamex over the past seven years, most recently, stepping in as chief executive to lead Foamex through the successful completion of its financial restructuring."
Johnson has recently been running his own management consulting business specialising in turnaround initiatives, as well as serving as non-executive chairman of GenTek Inc. and lead director of Thermadyne Holdings for the last three years."