Somnigroup Announces New President of Mattress Firm
Rhea-AI Summary
Somnigroup International (NYSE: SGI) has announced the appointment of Steve Rusing as the new President of Mattress Firm, effective March 10, 2025. Rusing will report to Scott Thompson, who serves as both Interim CEO of Mattress Firm and Chairman, President and CEO of Somnigroup.
Rusing brings 30 years of experience from Tempur Sealy, where he most recently served as President of US Sales. His expertise spans sales leadership, product development, merchandising, and retailer advertising. In his last five years at Tempur Sealy, he was instrumental in developing the company's omnichannel strategy, focusing on distribution channel success and conflict minimization.
The new president will be based at Mattress Firm's Houston, Texas office, where he will oversee the company's executive leadership team.
Positive
- Appointment of experienced industry executive with 30-year tenure at major competitor Tempur Sealy
- Strong expertise in omnichannel strategy and distribution management
- Extensive background in sales leadership, product development, and merchandising
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, SGI gained 0.65%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
"Steve is one of the most experienced and well-respected executives in the bedding industry, and I am excited that he will lead the talented team at Mattress Firm as it begins a new chapter within the Somnigroup portfolio," commented Thompson. "Over the course of his 30-year career at Tempur Sealy, his broad experience spanning sales leadership, product development, merchandising and retailer advertising have been invaluable to driving growth for both the company and for its third-party retailers. Additionally, over the last five years while serving as President of US Sales, he played an instrumental role in shaping the evolution of Tempur Sealy's omnichannel strategy, ensuring the success of every distribution channel and minimizing channel conflict."
Mr. Rusing will be based out of Mattress Firm's office in
About Somnigroup
Somnigroup (NYSE: SGI) is the world's largest bedding company, dedicated to improving people's lives through better sleep. With superior capabilities in design, manufacturing, distribution and retail, we deliver breakthrough sleep solutions and serve the evolving needs of consumers in more than 100 countries worldwide through our fully-owned businesses, Tempur Sealy, Mattress Firm and Dreams. Our portfolio includes the most highly recognized brands in the industry, including Tempur-Pedic®, Sealy® and Stearns & Foster®, and our global omni-channel platform enables us to meet consumers wherever they shop, offering a personal connection and innovation to provide a unique retail experience and tailored solutions.
We seek to deliver long-term value for our shareholders through prudent capital allocation, including managing investments in our businesses. We are guided by our core value of Doing the Right Thing and committed to our global responsibility to protect the environment and the communities in which we operate. For more information, please visit www.somnigroup.com.
Investor Relations Contact
Aubrey Moore
Investor Relations
Somnigroup International Inc.
Investor.relations@somnigroup.com
View original content:https://www.prnewswire.com/news-releases/somnigroup-announces-new-president-of-mattress-firm-302392087.html
SOURCE Somnigroup International
FAQ
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