The board of directors of industry supplier Leggett & Platt has promoted Karl Glassman and Matthew Flanigan.
Glassman was named president of the Carthage, Mo.-based company and retains his current role as chief operating officer, a position he has held since 2006. Previously, he was executive vice president and a director of the company. He joined L&P in 1982 and has held a variety of management roles.
Flanigan was named executive vice president and retains his current role as chief financial officer, a post he has held since 2003. In 2010, Flanigan was named a director and prior to that, in 2005, he was promoted to senior vice president. He has been with L&P in several management capacities since 1997.
“We are excited to have individuals of Karl’s and Matt’s caliber—extremely capable leaders with high integrity, determination and keen business acumen—continue to lead our company,” said David Haffner, L&P chief executive officer. “These two have been instrumental in helping orchestrate a significant change in the company’s strategic direction and have led our team to generate outstanding TSR performance for our investors. We have high expectations of what they will continue to accomplish.”
The Nominating Committee of the board of directors recommended that Haffner be named chair, and full approval is expected at the board’s May meeting, according to a news release.
Haffner joined L&P in 1972. He has served as CEO since 2006 and will continue in that capacity. Haffner was named a company director in 1995. If approved, he will succeed Richard Fisher as chairman.
The Nominating Committee also has recommended the election of Fisher as vice chairman and lead director. Fisher has been board chairman since 2008. Prior to that, he was presiding director. Fisher joined L&P in 1972.
