Mattress Giant Serta Simmons Announces New CEO

Eight months after starting the search for its next CEO, Serta Simmons Bedding has named Jim Loree to the top job.

“We are confident he is the right choice to help us continue accelerating our turnaround efforts and drive financial results,” says Mark Genender, who served as interim CEO after Charlie Eitel stepped down in fall 2023, after just three months in the role.

Genender will remain on as board chair and assist Loree with the transition.

“Over the last eight months, we have successfully relaunched a large portion of our product portfolio, enhanced critical retail relationships, initiated national advertising campaigns, and improved service levels and operating metrics across our plant network,” says Genender. “These accomplishments have only been possible through coordination and teamwork across all functions of the organization. We are beginning to see the success of these efforts through regained market share and we are well-positioned for future growth and success.”

Jim Loree

Loree brings significant consumer durables and retail channel experience to Serta Simmons, having served in C-suite roles at Stanley Black & Decker for nearly 25 years. He originally joined the company, then-Stanley Works, as vice-president and CFO in 1999, and was promoted to president and COO in 2009, before becoming CEO in 2016. During his tenure, Loree led growth strategies to increase revenue to $16 billion from $2 billion. Under his leadership, the company enhanced its advanced manufacturing capabilities, increased operational excellence and responsible business practices, and was recognized as a best workplace for innovators as well as for diversity and inclusion.

Prior to joining Stanley Works, Loree spent 19 years at General Electric Co., in a combination of leadership positions in finance, strategic planning and operating management.

“I am honoured to have the opportunity to lead the Serta Simmons team into the next phase of our company’s turnaround, grounded in progress and profitable growth,” says Loree. “Mark and the leadership team have laid a strong foundation for success, and I look forward to building on the turnaround strategy and developing a strong culture of accountability focused on driving financial results.”

Serta Simmons is one of the leading global sleep companies. Its brands include Serta, which has five other independent licensees, Beautyrest, Tuft & Needle and Beauty Sleep.

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