
| FOR IMMEDIATE RELEASE | For more information: Katie O’Neill |
SIMMONS BEDDING APPOINTS GARY FAZIO AS NEW CHIEF EXECUTIVE OFFICER
-Top industry executive brings extensive bedding experience to lead company-
(ATLANTA – July 7, 2010) –Simmons Bedding Company, a leading provider of premiumbranded
bedding products, announced today the appointment of Gary Fazio as its new Chief
Executive Officer effective July 8, 2010. Mr. Fazio brings more than 38 years of experience in the
bedding industry and will be based at the company’s headquarters in Atlanta.
"I am thrilled to be joining Simmons at a time when the company is enhancing its strong brand and product portfolio as well as continuing to build on its long history of developing high quality and innovative products," said Mr. Fazio. "Our opportunities are broad, and I look forward to joining the leadership team of such a distinguished company."
Mr. Fazio has served as a top executive at both Sealy, Inc. and Mattress Firm, both in the manufacturing and retail sales of bedding. From 1981 to 2001, he worked at Sealy, Inc., eventually becoming Vice President and General Manager. From 2001 until 2010, Mr. Fazio served as CEO at Mattress Firm and has been its Chairman since February 2010.
After five years of dedicated leadership and service to Simmons, and guiding the company successfully through its restructuring, President and Chief Operating Officer Steve Fendrich will be leaving the company.
About Simmons Bedding Company
Atlanta-based Simmons Bedding Company is one of the world's largest mattress
manufacturers, manufacturing and marketing a broad range of products including Beautyrest®,
Beautyrest Black®, Beautyrest® NxG®, Beautyrest Studio™, BeautySleep®, ComforPedic by
Simmons™, Natural Care® and Beautyrest Beginnings™. Simmons Bedding Company operates
19 conventional bedding manufacturing facilities and one juvenile bedding manufacturing facility
across the United States, Canada and Puerto Rico. Simmons Bedding Company also serves as
a key supplier of beds to many of the world’s leading hotel groups and resort properties.
Simmons Bedding Company is committed to developing superior mattresses and promoting a
higher quality sleep for consumers around the world. For more information, visit Simmons
Bedding’s Web site, www.simmons.com.
Forward-Looking Statements:
This press release includes forward-looking statements that reflect our 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 press release. These forward-looking statements are expressed in good faith
and Simmons 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’s expectations. These factors include, but are not limited to: (i)
compliance with covenants in, and any defaults under, our 11.25% senior secured notes indenture and our assetbased
lending (ABL) credit agreement; (ii) the potential adverse impact of our post-bankruptcy structure on our
business, financial condition, liquidity, and results of operations; (iii) interest rate and credit market risks; (iv)
competitive pressures in the bedding industry; (v) general economic and industry conditions; (vi) our ability to launch
new products on a timely basis, the success of our new products and the future costs to rollout such products; (vii)
legal and regulatory requirements; (viii) our relationships with, exposures to credit risk and viability of our suppliers,
significant customers and licensees; (ix) fluctuations in our costs of raw materials and energy prices; (x) our ability to
hold or increase prices on our products and the related effect on our unit sales; (xi) an increase in our return rates
and warranty claims; (xii) our labor relations; (xiii) encroachments on our intellectual property; (xiv) our product liability, intellectual property and other litigation claims; (xv) our level of indebtedness; (xvi) foreign currency exchange
rate risks; (xvii) our future acquisitions; (xviii) our ability to achieve the expected benefits from any personnel
realignments; (xix) higher bad debt expense as a result of increased customer bankruptcies due to instability in the
economy and slowing consumer spending; and (xx) our ability to maintain sufficient liquidity to operate our business.
We undertake no obligation to update or revise any forward-looking statements, either to reflect new developments or
for any other reason.