Tempur–Pedic President and Chief Executive Officer H. Thomas Bryant plans to retire in mid–year, according to the company, which has headquarters in Lexington, Ky.
Bryant joined the bedding maker in July 2001 and has served as its CEO and as a member of its board of directors since April 2006. Bryant is expected to continue to serve as a director and will stand for re–election at the company’s annual meeting of stockholders in May.
“We have established a very strong senior management group and built a team of outstanding professionals throughout the company,” Bryant said. “I believe we have the right strategy, structure and processes in place to continue growing market share around the world. Accordingly, I believe now is the appropriate time to begin the transition to my retirement.”
P. Andrews McLane, chairman of Tempur–Pedic’s board, said, “On behalf of the board of directors, I thank Tom for his many contributions to the company’s success over the past seven years. During his tenure, Tempur–Pedic has grown to be the leader in specialty sleep.”
Tempur–Pedic’s board has formed a committee to lead the search for a new CEO and has retained an executive search firm