Wednesday, October 1, 2008

Simmons Announces Management Transition

(BUSINESS WIRE)--Simmons Bedding Company (“Simmons” or “Company”), one of the world’s largest mattress manufacturers, announced today that Chairman and Chief Executive Officer Charlie Eitel is transitioning the Company’s leadership to Steve Fendrich, who became President and Chief Operating Officer in January of this year. Effective October 1, Mr. Fendrich will oversee all aspects of Simmons’ operations, and all other members of the leadership team will report to him. Mr. Fendrich will report to the newly formed Executive Committee of the Board of Directors, composed of David Jones, Joseph Messner and Scott Schoen. Mr. Eitel will remain active in the Company, assuming the role of Vice Chairman of the Board of Directors. In this position, Mr. Eitel will continue to contribute to the Company through his long-standing relationships with key customers, suppliers and industry groups.

Mr. Eitel joined the Company in January 2000 and has played a critical role in reinforcing the Company's position as an industry leader. "It has been an honor serving as the Chief Executive Officer and Chairman of Simmons for the past eight years. During my tenure, I have seen this great company expand its position as the mattress industry leader in innovation and quality through the continued development of key brands, including Beautyrest®, Beautyrest Black® and ComforPedic by Simmons™. I look forward to my new role as Vice Chairman of the Board of Directors, helping Steve and his leadership team continue to promote our products to Simmons’ customers around the world," said Mr. Eitel.

Mr. Fendrich said, "I am excited by the opportunities ahead of us at Simmons. The Company is well-positioned to grow with a strong product line and a committed base of retail partners. I would like to take this opportunity to thank Charlie for his leadership during his tenure as Chief Executive Officer and Chairman of Simmons. He has built on Simmons’ ideals of quality and innovation, which have been the hallmarks of the Company’s culture throughout its 138-year history. Simmons will continue to be an industry leader, shaping the mattress landscape with next-generation technologies for better sleep."

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