Linwood, Pennsylvania-Foamex International Inc. has named Raymond Mabus Jr as interim president and chief executive officer, following the resignation of Thomas Chorman from these roles. Chorman, also a director of Foamex, resigned from the company "by mutual agreement with the Board, effective immediately," the group announced, 8 June.
Foamex-which has been in Chapter 11 bankruptcy protection for several months, will now search for a permanent president/ceo. Mabus is also chairman of the major US foam group.
Thanking Chorman for his contributions to Foamex, Mabus said, "While Foamex faces a set of complex challenges, we are building a solid foundation and working hard to bring the company out of chapter 11 on a consensual basis as quickly as possible."
Mabus pointed out that in moving out of chapter 11, Foamex aims increase its profitability and competitiveness for the long-term, and solidify its position as market leader.
Foamex has also given Gregory Christian, executive vice president, chief restructuring officer and general counsel, additional responsibilities for information technology, procurement and manufacturing technology, as chief administrative officer. Christian will also serve on the company's board.