Pirelli Tire North America to Expand Rome Plant

Pirelli Tire North America announced today that it will add a new production line to its Rome facility, investing $15 million.

“Pirelli’s announcement is just the latest expansion of international companies here in Georgia,” said Georgia Governor Sonny Perdue. “Georgia has all the advantages that companies are looking for when considering investment in the American market, and our expectation is that we will continue to see new jobs and investment stream to our state.”

Pirelli’s expansion will provide an approximately 25 percent boost in manufacturing output and is scheduled to become operational during the first quarter of 2009.

Georgia Governor Sonny Perdue met with senior Pirelli officials in Milan today as part of his economic development mission to Europe. In 2002, Pirelli relocated its U.S. headquarters and manufacturing facility to Rome, where it manufactures high-end tires for the automotive industry. Approximately 250 employees work at Pirelli Tire North America’s Rome Headquarters.

“Our expansion of the Georgia-based Modular Integrated Robotized System (MIRS™) facility supports Pirelli’s strategic growth plan for the North American market and demonstrates our strategy of investing in its ongoing partnership with the State of Georgia and its office of Economic Development,” said Hugh Pace, CEO and Chairman of Pirelli Tire North America.

“We’re delighted that Pirelli has continued to invest in Rome and Floyd County,” said Dr. Jerry Jennings, Floyd County Commission Chairman. “We appreciate Pirelli’s confidence in our workforce, business climate and quality of life, and welcome further expansion from this fine corporate citizen.”

Brooks Mathis, project manager with GDEcD, assisted the company in its expansion.
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Home Depot Co-Founder Arthur Blank Joins Golf & Tennis Pro Shop Board of Directors, Appointed Chairman

PRNewswire-USNewswire/ -- Golf & Tennis Pro Shop, Inc., owner and operator of PGA TOUR Superstores, today announced the appointment of Arthur M. Blank to the company's board of directors. Blank was also named chairman of the board, replacing Golf & Tennis Pro Shop founder Bill Hamlin, who has retired as chairman.

Blank is co-founder of The Home Depot and owner & CEO of the Atlanta Falcons. He has been a significant investor in Golf & Tennis Pro Shop since 2006.

"I am honored to be leading the board of this exciting retail concept," Blank said. "PGA TOUR Superstore has real potential to further solidify its leadership position in the golf and tennis retail segments, by continuing to enhance its business model and through future store growth. I, along with our other board members, look forward to guiding the company in both these areas."

Other members of the board of directors are:
-- Marshall Day, Day Investment Partners, L.P.
-- Mike Elliott, Noro-Moseley Partners
-- Charlie Moseley, Noro-Moseley Partners
-- Ralph Pepper, RCP Management
-- Kim Shreckengost, AMB Group, LLC
-- Dick Sullivan, Golf & Tennis Pro Shop CEO

Golf & Tennis Pro Shop is the PGA TOUR's exclusive partner for off-course/off-airport and online golf retailing. Founded in 2004, the company has grown to 10 superstores across the United States.

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Cox Enterprises and The Trust for Public Land Announce Partnership

PRNewswire/ -- Celebrating the first anniversary of Cox Conserves, its national sustainability program, Cox Enterprises today announced a corporate partnership with The Trust for Public Land (TPL).

As part of their partnership, Cox and TPL have launched Cox Conserves Heroes, an environmental recognition program. The program recognizes environmental role models who create, preserve and improve the shared outdoor spaces in their communities. Cox Conserves Heroes is currently underway in Seattle with Cox-owned KIRO-TV, a CBS affiliate, and will expand next year into additional Cox markets such as Atlanta, New Orleans and San Diego.

"Partnering with The Trust for Public Land is a great fit for our Cox Conserves program," said Jim Kennedy, chairman and chief executive officer of Cox Enterprises. "Our goal has a two-pronged approach: reduce our company's carbon footprint and inspire environmentally friendly behavior among our employees, customers and communities."

To select the Cox Conserves Hero, local communities nominate and vote for individuals who are making a difference for the environment. The Hero with the most votes receives $5,000 to be donated to a non-profit environmental group of his or her choice.

"Cox is a role model for all corporations seeking to adopt sustainable business practices," said Will Rogers, president of The Trust for Public Land. "And, by recognizing the extraordinary conservation efforts of ordinary people, the Heroes program inspires all of us to preserve and protect the shared outdoor spaces that make our communities more livable."

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CarMax Announces Workforce Reduction

(BUSINESS WIRE)--CarMax, Inc. (NYSE:KMX) today (October 1, 2008) announced that, as a part of its ongoing plan to control costs and enhance its long-term competitive position, it is reducing its service operations workforce by more than 600 associates. The reductions are being made in a majority of the company’s production superstores, where vehicles are reconditioned.

About a third of the reductions are being made in response to the company’s previously reported lower sales. "Since Memorial Day, we have taken significant steps forward in aligning our costs with current sales levels," said Tom Folliard, president and chief executive officer. "Since that time, we have achieved our store staffing objectives in most departments, but it was necessary to make further reductions in service operations in order to reach these staffing goals."

As part of the company’s long-term initiative to decrease costs in the reconditioning area, CarMax is restructuring its cosmetic operations, which resulted in the remaining reductions. "We believe the steps announced today represent important progress toward our multi-year goal of taking costs out of the reconditioning process while maintaining vehicle quality," said Folliard.

"This was a difficult but necessary decision for us to make," said Folliard. "To ease the transition into the job market for these associates, we are offering severance packages, meeting with them individually to explain the decision and providing them with important information about benefits and pay." In connection with the reductions, the company estimates that it will incur approximately $7 million of severance costs, which will be included in selling, general and administrative costs in the third quarter ended November 30, 2008.

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Women Entrepreneurs: A Fast-Growing Segment in Franchising, FranNet Says

(BUSINESS WIRE)--According to the International Franchise Association (IFA), women have founded 23 franchise systems in the United States, and the number of women-owned franchises continues to climb. Within a 10 year span, women-owned franchises increased nearly 17 percent according to the International Franchise Association reports. In addition, women, in general, put a strong emphasis on networking, and building and maintaining positive workplace relationships, the Association said.

All in all – women continue to make strong impacts in the franchising market.

To keep momentum going, while recognizing Women's Small Business Month this October, FranNet salutes local women and their success in the corporate world, especially in franchising, said Jania Bailey, president and COO of FranNet.

"Franchising offers so many options for both men and women. However, through franchising, women can attain an enjoyable work-life balance," Bailey said. "Owning a small franchise business allows a woman to work around her lifestyle, instead of her having to work around her job. And, owning a franchise is like being in a family – an environment from which women naturally enjoy being a part of."

The success of women business owners spans across various markets. But there are certain sectors that are more popularized by women, Bailey said, including:

* Child-focused franchises: Tutoring/educational companies, fitness programs, fun centers/birthday parties, creative and art-related businesses, daycare franchises
* Service franchises: Fitness centers, expense management, residential cleaning, marketing, home décor, home improvement, business coaching, pet services, executive counseling, and consulting.
* Computer/Internet franchises: Web site creation, search engine marketing, consulting, and repair are all fields that are excellent as home-based businesses.

"There are many opportunities in franchising and more women will seek a work-life balance – making franchising a more desirable alternative for business ownership," Bailey said.

FranNet consultants work individually with clients who are interested in purchasing a franchise business. They use a specific profiling and consultative process to determine a business model unique to each person, suggesting specific franchises that would best fit with each person's goals, skill sets and interests, both personally and professionally.

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Genesee and Wyoming Acquires Georgia Southwestern Railroad

PRNewswire-FirstCall/ -- Genesee & Wyoming Inc. (GWI) (NYSE:GWR) announced today that it has acquired the Georgia Southwestern Railroad, Inc. (Georgia Southwestern) for cash consideration of approximately $16.5 million and the assumption of $5.4 million in debt, subject to adjustment for final working capital.

Headquartered in Dawson, Ga., the Georgia Southwestern operates over 220 miles of track between (i) White Oak, Ala., and Smithville, Ga.; (ii) Cuthbert, Ga., and Bainbridge, Ga. and (iii) in and around Columbus, Ga. The Georgia Southwestern connects to GWI's Chattahoochee Industrial Railroad in Saffold, Ga., via trackage rights.

The Georgia Southwestern has 20 employees and 10 locomotives and carries approximately 10,000 carloads per year, primarily serving customers in the peanut, general agriculture, aggregate, animal feed and ethanol storage markets. It interchanges with Norfolk Southern, CSXT and the Heart of Georgia Railroad.

The Georgia Southwestern will be managed as part of GWI's Southern Region under the leadership of GWI Senior Vice President Gerald T. Gates. GWI expects the acquisition will be immediately accretive to its earnings per share.

GWI owns and operates short line and regional freight railroads in the United States, Canada, Australia and the Netherlands and owns a minority interest in a railroad in Bolivia. Operations currently include 63 railroads organized in nine regions, with more than 6,700 miles of owned and leased track and approximately 3,000 additional miles under track access arrangements. GWI provides rail service at 16 ports in North America and Europe and performs contract coal loading and railcar switching for industrial customers.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Genesee & Wyoming's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.

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Immucor Announces Record Fiscal First Quarter Results

PRNewswire-FirstCall/ -- Immucor, Inc. (NASDAQ:BLUD) , a global leader in providing automated instrument-reagent systems to the blood transfusion industry, today reported financial results for the fiscal first quarter ended August 31, 2008. Our first quarter 2009 results include the results of BioArray Solutions beginning August 4, 2008, the date the acquisition was consummated.

Revenue for the fiscal first quarter was a record $73.2 million, up 15% from $63.6 million in the same period last year. Of the $9.6 million total increase in revenues, approximately $7.3 million came from price increases in the United States, approximately $2.5 million came from sales increases including instrument revenues outside the United States, and approximately $2.0 million of the increase is due to the effect of the change in the Euro, Japanese Yen and Canadian dollar exchange rates. Partially offsetting these increases were volume decreases of approximately $2.2 million in the United States comprised of instrument increases of approximately $2.5 million offset by reagent decreases of approximately $3.2 million and a decrease in collagen revenues of approximately $1.5 million resulting from our previously announced decision to cease collagen production. Gross margin was 73.0% in the quarter compared to 72.1% in the prior year quarter.

Net income for the first quarter of fiscal 2009 was a record $20.0 million, up from $17.8 million for the same quarter last year. Diluted earnings per share totaled $0.28 on 71.2 million weighted average shares outstanding, as compared with $0.25 on 71.1 million weighted average shares outstanding for the same period last year.

Instrument revenue was $8.6 million in the first quarter of fiscal 2009, a 68% increase from $5.1 million in the fiscal 2008 first quarter. As of August 31, 2008, deferred instrument revenues, including deferred service revenues, totaled $23.9 million. The revenues on most instrument sales in the United States are recognized over the life of the underlying reagent contract, which is usually 5 years. However, we record the entire cost of sales on an instrument when our contractual obligations related to the sale of the instrument are completed.

Reagent gross margin excluding molecular immunohematology was 80.6% during the first quarter of fiscal 2009 and in the same period last year.

"We are very pleased with our record quarterly financial results and the number of Echo orders received in North America," said Dr. Gioacchino De Chirico, President and Chief Executive Officer. "In the first quarter we received a total of 124 Echo orders, 108 in North America and another 16 Echo orders in the rest of the world. We also received orders for 2 Galileo instruments in North America in the first quarter, and another 10 Galileo orders in the rest of the world for a total of 12 in the quarter." Commenting further, Dr. De Chirico stated, "All-time highs were achieved in revenues, and net income for the quarter as our strategies to grow our business and the execution of our plan once again generated outstanding results." As of August 31, 2008 the Company had received orders for a total of 586 Galileo instruments worldwide, including 323 in Europe, 259 in North America and 4 in Japan, and approximately 553 of these instruments were generating reagent revenues, an increase of 16 in the quarter. As of August 31, 2008 the Company had received orders for a total of 378 Echo instruments worldwide, including 67 in Europe, 304 in North America and 7 in Japan, and approximately 129 of these Echo instruments were generating reagent revenues which is an increase of 38 in the quarter."

Selected Highlights

-- Summary of Instrument Orders

Q1 2009 Orders Cumulative
Instrument N.A.(1) ROW(2) Total Orders (3)
Echo 108 16 124 378
Galileo 2 10 12 586

(1) N.A. - North America (the U.S. and Canada)
(2) ROW - all parts of the world other than North America.

(3) Cumulative Orders - total orders received since the launch of the instrument.

-- Sales of traditional reagent products (i.e. products not using the Company's patented Capture(R) technology), increased $4.2 million, or 9%, from $45.1 million in the first quarter of fiscal 2008 to $49.3 million in the first quarter of fiscal 2009. Sales of Capture products increased approximately $3.2 million to $15.2 million, a 27% increase over the prior year quarter.

-- The gross margin on traditional reagents was 78.7% for the first quarter of 2009, compared with 79.6% in the prior year quarter. The gross margin on Capture(R) products was 86.7% for the fiscal year 2009 first quarter, compared with 84.6% in the prior year quarter.

-- Instrument revenue totaled $8.6 million in the first quarter of fiscal 2009 compared to $5.1 million in the first quarter of fiscal 2008, an increase of 68%. The gross margin on instruments, including the impact of the cost of providing service, was 17.4% for the fiscal year 2009 first quarter, compared to a negative 4.1% for the same quarter last year.

-- The effect on revenues of the change in the Euro, Japanese Yen and Canadian dollar exchange rates was an increase of approximately $2.0 million for the first quarter of fiscal 2009 as compared to the prior year first quarter. The effect on net income of the change in the Euro, Japanese Yen and Canadian dollar exchange rates was an increase of approximately $0.4 million in the quarter ended August 31, 2008 as compared to the prior year quarter.

-- Distribution expenses increased by $0.8 million in the first quarter of fiscal 2009 as compared to the prior year quarter. Distribution costs were impacted in the United States by higher shipping costs of $0.2 million, higher salaries and benefits of $0.1 million, higher depreciation of $0.1 million, and higher rent and utilities of $0.1 million. New affiliates in France and the U.K. contributed $0.1 million of the increase.

-- Selling and marketing expenses increased by $1.9 million in the first quarter of fiscal 2009 as compared to the prior year quarter. Selling and marketing expenses in the United States other than those associated with BioArray increased $0.4 million primarily due to higher salaries. Japan contributed $0.2 million of the increase, BioArray contributed $0.2 million and costs associated with our new affiliates in France and the U.K. contributed $0.7 million.

-- General and administrative expenses increased by $1.6 million for the first quarter of fiscal 2009 as compared to the prior year quarter. General and administrative expenses were primarily impacted by additional costs of $0.7 million from our new affiliates in France and the U.K. and BioArray costs of $0.3 million. In the United States costs other than those associated with BioArray increased $0.3 million.

-- Research and development expenses decreased by $0.2 million in the first quarter of fiscal 2009 as compared to the prior year quarter primarily due to lower consulting fees of $0.4 million which were partially offset by BioArray which contributed $0.3 million in additional research and development expense.

-- Total BioArray operating expenses of $1.1 million included research and development costs of $0.3 million, selling and marketing expenses of $0.2 million, general and administration costs of $0.3 million, and amortization of $0.3 million.

-- Overall, operating expenses increased by $4.0 million in the first quarter of fiscal 2009 as compared to the prior year first quarter primarily as a result our new affiliates in France and the U.K. which contributed $1.5 million, BioArray which contributed $1.1 million, and $1.0 million due to the effect of the change in the Euro, Japanese Yen and Canadian dollar exchange rates. Partially offsetting these cost increases was a reduction of $0.5 million in restructuring costs.

-- The effective tax rate of 35.4% for the first quarter of fiscal 2009 was positively impacted by certain provision to return true-up adjustments totaling approximately $0.4 million that will not be recurring in future quarters of the fiscal year. Excluding these adjustments, the effective tax rate for the first quarter of fiscal 2009 would have been 36.6% compared to 36.4% in the prior year quarter.

-- Cash flow from operations was strong at $21.6 million in the quarter. Cash and cash equivalents decreased $86.0 million to $89.1 million at the end of the first quarter of fiscal 2009 compared to $175.1 million at May 31, 2008 primarily as a result of our BioArray acquisition, which the Company funded with $108.2 million of cash.

After incorporating BioArray in the previous guidance for the fiscal year ending May 31, 2009 as disclosed in its press release dated June 4, 2008, Immucor now expects fully diluted earnings per share in the range of $0.94 to $0.98 for fiscal year 2009. We continue to expect revenues for the fiscal year ending May 31, 2009 to range from $292 million to $300 million. Gross margin is expected to be in the range of 70% to 71%.

Immucor, Inc. will host a conference call October 2, 2008 at 8:30 AM (EDT) to review these results. Investors are invited to participate in this conference call with Dr. Gioacchino De Chirico, President and Chief Executive Officer; Richard A. Flynt, Chief Financial Officer; and Edward L. Gallup, consultant. The call will focus on the results for the first quarter and general business trends. This earnings release will be posted on Immucor's website, as well as any material financial information that may be discussed by Messrs. De Chirico, Flynt or Gallup during this call that is not contained in the earnings release. Both this earnings release and the additional financial information, if any, will be posted as soon as practicable after the call on the investor news section of Immucor's website. To access this information once posted, go to Immucor's website at www.immucor.com and click on "About Us - Press Releases."

To participate in the telephone conference call, dial 1-888-324-7567 pass code BLUD. Replays of the conference call will be available for one week beginning at 12:00 PM on October 2, 2008 by calling 1-800-337-5610. Beginning October 9, 2008, audio of the conference call or a transcript of the audio will be available on the "About Us - Press Releases" page of the Immucor website.

Founded in 1982, Immucor manufactures and sells a complete line of reagents and systems used by hospitals, reference laboratories and donor centers to detect and identify certain properties of the cell and serum components of blood prior to transfusion. Immucor markets a complete family of automated instrumentation for all of its market segments.

For more information on Immucor, please visit our website at www.immucor.com .

Statements contained in this press release that are not statements of historical fact are "forward-looking statements" as that term is defined under federal securities laws, including, without limitation, all statements concerning Immucor's expectations, beliefs, intentions or strategies for the future. Forward-looking statements may be identified by words such as "plans," "expects," "believes," "anticipates," "estimates," "projects," "will," "should" and other words of similar meaning used in conjunction with, among other things, discussions of future operations, financial performance, product development and new product launches, FDA and other regulatory applications and approvals, market position and expenditures. Factors that could cause actual results to differ materially from those expressed in any forward-looking statement include the following: lower than expected market acceptance of the Company's new Galileo Echo instrument; lower than expected market acceptance of the molecular diagnostic products produced by BioArray; the decision of customers to defer capital spending; the inability of customers to efficiently integrate our instruments into their blood banking operations; increased competition in the sale of instruments and reagents, particularly in North America; product development or regulatory obstacles, including obstacles related to the development of an automated instrument for the molecular diagnostic products produced by BioArray, and regulatory approval of that platform as well as the products currently produced by BioArray; the failure to effectively integrate BioArray operations into the Company's overall operations; the inability to hire and retain key managers; changes in interest rates; fluctuations in foreign currency conversion rates; the inability of the Company's Japanese and French subsidiaries to attain expected revenue, gross margin and net income levels; the outcome of any legal claims or regulatory investigations known or unknown, including intellectual property claims against BioArray; delays in regulatory approvals required to manufacture products previously produced in Houston; higher than expected manufacturing consolidation costs; the unexpected application of different accounting rules; and general economic conditions. In addition, the strengthening of the US Dollar versus the Euro, Canadian Dollar and Japanese Yen would adversely impact reported results. Investors are cautioned not to place undue reliance on any forward-looking statements. Further risks are detailed in the Company's filings with the Securities and Exchange Commission. Immucor assumes no obligation to update any forward-looking statements.

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Drug-Free Work Week 2008 Oct. 20 through 26

The U.S. Department of Labor today announced that this year's national Drug-Free Work Week will take place Oct. 20 through 26. The purpose of Drug-Free Work Week is to educate employers, employees and the general public about the importance of being drug-free as an essential component of a safe and healthful workplace.

"Drug-Free Work Week is a good time to remind employers and employees that reducing workplace substance abuse is a crucial part of keeping workers safe," said Elena Carr, drug policy coordinator at the Department of Labor. "Of course, in a safe and healthful workplace, every week should be drug free."

According to studies conducted by researchers at the University at Buffalo's Research Institute on Addictions, an estimated 14.1 percent (17.7 million) of working adults in the U.S. used illicit drugs in the previous year, with an estimated 3.1 percent (3.9 million) actually doing so before reporting to work or during working hours.

Now in its third year, the annual campaign is a collaborative effort organized by the Department of Labor, members of its Drug-Free Workplace Alliance, and other public and private sector organizations devoted to safe and healthy workplaces. All employers and employees are encouraged to participate in recognizing Drug-Free Work Week.

Throughout Drug-Free Work Week, the department, alliance members and others will conduct activities to help employers, supervisors and workers understand how to implement effective drug-free workplace programs that focus on detection and deterrence, while also offering assistance and support for workers who may have substance abuse problems. Employers and employees in all industries can learn more about how to participate in Drug-Free Work Week and ways they can promote drug-free workplace messages — during the campaign and throughout the year — by visiting the department's Drug-Free Work Week Web site at www.dol.gov/drugfreeworkweek/.

The Drug-Free Work Week Web site includes the Drug-Free Work Week Tool Box, which contains drop-in articles, print public service announcements and other materials to assist organizations in promoting Drug-Free Work Week. Since the first Drug-Free Work Week in 2006, 25 national organization planning partners have joined the effort, indicating increased grassroots support for the campaign's goal of eliminating drugs in the workplace.
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Blue Cross and Blue Shield of Georgia Introduces Blue View Vision(SM)

PRNewswire/ -- Blue Cross and Blue Shield of Georgia (BCBSGa) is now offering an affordable and flexible vision plan, Blue View Vision, which provides access to more than 600 network providers in Georgia and to more than 44,000 providers and provider locations nationwide.

The Blue View Vision network includes ophthalmologists, optometrists, and opticians. In addition to private practitioners, Blue View Vision's broad national network includes retailers like LensCrafters(R), Target(R) Optical, JC Penney(R) Optical, Sears Optical and Pearle Vision locations.

"When employees get the vision care they need, productivity increases. And when vision care is covered by the Blue View Vision(SM) plan, employees can get quality care quickly and conveniently," said Monye Connolly, president, BCBSGa.

Blue View Vision members are entitled to a number of important benefits and discounts on products and services, including comprehensive eye examinations and coverage for lenses and frames or contact lenses. Members also enjoy additional savings of up to 40 percent on the purchase of extra pairs of eyewear, conventional contact lenses, lens treatments, specialized lenses and other non-covered items, even after they've exhausted their covered benefits - kids ages 19 and under get full coverage of Transitions(R) and polycarbonate lenses.

With many provider locations open evenings and weekends, members have greater flexibility and convenience when scheduling appointments. And since so many people buy glasses on evenings and weekends, Blue View Vision customer service is available seven days a week to answer customer questions.

As the work force ages, Blue View Vision coverage can help maintain employee productivity. The National Eye Institute estimates that more than 38 million Americans age 40 and older experience blindness, low vision or an age-related eye disease, such as age-related macular degeneration, diabetic retinopathy, glaucoma or cataracts.

"An eye exam is one of the best forms of preventive medicine today. An integrated health benefits plan that includes medical and vision coverage provides consumers with important preventative services with a focus on overall well-being and good health," added Connolly. "BCBSGa offers employers a single source for a comprehensive, competitive total insurance package that can help them to recruit, engage and retain employees."

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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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