Welcome to our dedicated page for Leggett & Platt news (Ticker: LEG), a resource for investors and traders seeking the latest updates and insights on Leggett & Platt stock.
Leggett & Platt Incorporated (NYSE: LEG) delivers engineered components critical to residential comfort and automotive systems worldwide. This news hub provides investors and industry professionals with comprehensive access to the company's official communications and market developments.
Track key business updates including quarterly earnings, product innovations, strategic partnerships, and manufacturing advancements. Our curated collection features press releases covering bedding technology breakthroughs, automotive seating solutions, and operational milestones across LEG's diversified segments.
Discover timely updates on:
- Financial performance and dividend announcements
- New patents and manufacturing technologies
- Sustainability initiatives and facility expansions
- Leadership changes and corporate governance updates
Bookmark this page for direct access to Leggett & Platt's verified news stream, ensuring you stay informed about this industrial manufacturer's evolving market position and innovation roadmap.
Leggett & Platt has appointed Karl Glassman as President and CEO, effective immediately. Glassman will also continue as Board Chairman. This move follows Mitch Dolloff's resignation from both roles. Dolloff will remain as a consultant for one year to support the transition. Glassman, who has a 42-year tenure at Leggett & Platt and previously served as CEO from 2016 to 2021, brings deep knowledge of the company's operations and markets. Lead Independent Director Robert Brunner expressed confidence in Glassman's ability to navigate current market challenges and drive long-term growth. The company also thanked Dolloff for his 20 years of service.
Leggett & Platt held its annual meeting, electing directors, ratifying auditors, endorsing executive compensation, and approving stock plan amendments. The diversified manufacturer provides components for homes, automobiles, bedding, furniture, and aerospace.
Leggett & Platt reported 1Q sales of $1.1 billion, a 10% decrease vs the previous year. The company announced a second quarter dividend of $.05 per share and updated its 2024 sales and EPS guidance. The restructuring plan is on track, aiming to optimize operations and improve margins. The company's capital allocation priorities include strengthening the balance sheet, reducing the dividend to accelerate deleveraging, and focusing on long-term profitable growth opportunities.
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