Lexington, Kentucky - Mattress maker Tempur-Pedic International Inc. has announced that its president and chief executive officer, Thomas Bryant, plans to retire in mid 2008.
The company said that Bryant will work to ensure an orderly transition to a new ceo before he goes. Bryant will continue as a director and stand for re-election at the annual meeting of stockholders in May 2008.
Bryant joined Tempur-Pedic in July 2001, and has been ceo and a board member since April 2006.
"I believe Tempur-Pedic has secured its place as the leading manufacturer, marketer, and distributor of mattresses and pillows worldwide," said Bryant, in the company's 29 Feb announcement.
"I believe we have the right strategy, structure and processes in place to continue growing market share around the world," he added.
Tempur-Pedic makes mattresses and pillows from its proprietary Tempur pressure-relieving viscoelastic foam material. The company calls itself is "the worldwide leader in premium sleep," a segment which it says is the fastest growing in the estimated $13 000-million global mattress market.
On 6 March John Heil joined the Tempur-Pedic board as a director. Heil is chief operating officer and president of Global Pet Supplies and previously had a twenty-five year career with H.J. Heinz Co.