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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