Mark Sarvary has been named president and CEO of Tempur-Pedic International Inc. (NYSE: TPX), effective August 4. He currently is an industrial partner with CVC Capital Partners, and previously was president of Campbell Soup Co.'s North American division.
Tempur-Pedic International Inc. (TPX), the leading manufacturer, marketer and distributor of premium mattresses and pillows worldwide, today announced that it has named Mark Sarvary as Chief Executive Officer and President, succeeding H. Thomas Bryant, who as previously announced will retire from the role, effective August 4, 2008. Until then, Mr. Sarvary will be working with Mr. Bryant to ensure a smooth transition.
Mr. Sarvary is currently an Industrial Partner with CVC Capital Partners, a global private equity firm. Prior to CVC, from 2004 to 2007, Mr. Sarvary was the President of Campbell Soup Company's
Prior to joining
Tempur-Pedic's Chairman, P. Andrews McLane stated: “Mark Sarvary is exceptionally well-qualified for the CEO role and has the ability and experience to lead Tempur-Pedic beyond the $1 billion sales level into its next phase of growth and development. He has a track record of driving sales and earnings growth. He also understands the value of brands, the need to exceed customer and consumer expectations, and the importance of employee engagement to achieve superior business performance. Mark is an accomplished business leader who brings a great breadth of skills in sales, marketing, product innovation, strategy and operations.”
Commenting on his appointment, Mr. Sarvary stated: “I am very excited to be appointed as CEO of Tempur-Pedic. I am looking forward to building on the incredible brand and unique technology. I am also thrilled to be joining the Tempur-Pedic family. The Company has a strong culture, an excellent leadership team and a dedicated board.”
Mr. Sarvary was raised in Europe, and received a BSc (Physics) from
Mr. Sarvary will assume his role as Chief Executive Officer and President and will join the Tempur-Pedic Board of Directors on August 4, 2008. Mr. Bryant will continue to serve on Tempur-Pedic's Board of Directors through the current term expiring in 2009.
Mr. McLane concluded: “I would also like to thank Tom Bryant for all his efforts and significant achievements at Tempur-Pedic, and we wish him well on his retirement.”
About the Company
Tempur-Pedic International Inc. (NYSE: TPX) manufactures and distributes mattresses and pillows made from its proprietary TEMPUR(R) pressure-relieving material. It is the worldwide leader in premium sleep, the fastest growing segment of the estimated $13 billion global mattress market. The Company is focused on developing, manufacturing and marketing advanced sleep surfaces that help improve the quality of life for people around the world. The Company's products are currently sold in over 70 countries under the TEMPUR(R) and Tempur-Pedic(R) brand names. World headquarters for Tempur-Pedic International is in