Christine Foster
three PR
cfoster@3atlanta.com
Katie O’Neill
three PR
404.266.0899
koneill@3atlanta.com
--Gary Matthews brings diverse leadership background to Simmons executive team-
(ATLANTA—December 8, 2006) – Simmons Bedding Company’s new president, Gary S. Matthews, joined the mattress manufacturer this week, bringing his leadership experience in a variety of different industries to the Simmons executive team. Mr. Matthews will oversee sales in the United States and Canada and the Simmons marketing and operations departments, and he will report directly to Simmons Chairman and CEO Charlie Eitel.
“Gary possesses the skills and experience that Simmons needs to extend our existing sales and market share growth into 2007 and beyond,” said Mr. Eitel. “His branding and strategic selling expertise is what we were looking for in a president. We believe that Gary’s personality and leadership style will enhance our already vibrant corporate culture and that he will be instrumental in helping us build upon our 2006 success. We anticipate an even brighter future with Gary on board.”
Mr. Matthews most recently served as president and CEO of Sleep Innovations, Inc., a specialty sleep bedding manufacturer. He previously headed Bristol-Myers Squibb’s Worldwide Consumer Medicines and Specialty Pharmaceuticals division, Derby Cycle Corporation and the Guinness Import Company, increasing sales, market share and revenue at each company. Matthews sits on the board of the Molson Coors Brewing Company.
“Simmons is known as the premier innovator in the bedding industry, and I am excited about the marketing opportunities for this 137-year-old brand,” said Mr. Matthews. “The team at Simmons is very strong and highly motivated to lead the mattress industry. I am looking forward to joining and contributing to help Simmons advance its strategy for long-term growth.”
Mr. Matthews received his MBA from Harvard Business School and has an undergraduate degree from Princeton University.
For more information about Simmons, please visit www.simmons.com.
About Simmons Bedding Company Atlanta-based Simmons Bedding Company, a subsidiary of Simmons Company, is one of the world's largest mattress manufacturers, manufacturing and marketing a broad
®®
range of products including Beautyrest , BackCare , Beautyrest Black™, Natural Care™
® ®
Latex, BackCare Kids and DeepSleep . It operates 21 conventional bedding
manufacturing facilities and two juvenile bedding manufacturing facilities across the
United States, Canada and Puerto Rico. Simmons Bedding Company is committed to
developing superior mattresses and promoting a higher quality sleep for consumers
around the world. For more information, visit the company's website at
www.simmons.com.
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“Safe Harbor” Statement under the United States Private Securities Litigation Reform Act of 1995:
This press release includes forward-looking statements that reflect Simmons Company’s current views about future events and financial performance. Words such as “estimates,” “expects,” “anticipates,” “projects,” “plans,” “intends,” “believes,” “forecasts” and variations of such words or similar expressions that predict or indicate future events, results or trends, or that do not relate to historical matters, identify forward-looking statements. The forward-looking statements in this press release speak only as of the date of this release. These forward-looking statements are expressed in good faith, and Simmons Company believes there is a reasonable basis for them. However, there can be no assurance that the events, results or trends identified in these forward-looking statements will occur or be achieved. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from Simmons Company’s expectations. These factors include, but are not limited to: (i) competitive pricing pressures in the bedding industry; (ii) legal and regulatory requirements;
(iii) the success of new products; (iv) Simmons Company’s relationships with and viability of its major suppliers; (v) fluctuations in Simmons Company’s costs of raw materials; (vi) Simmons Company’s relationship with significant customers and licensees; (vii) Simmons Company’s ability to increase prices on its products and the effect of these price increases on its unit sales; (viii) an increase in Simmons Company’s return rates and warranty claims; (ix) Simmons Company’s labor relations; (x) departure of Simmons Company’s key personnel;