Tempur Sealy International, Inc. Announces Board Appointments, Effective January 1, 2022
December 16, 2021 at 04:05 pm EST
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Tempur Sealy International, Inc. announced it has appointed Meredith Siegfried Madden, as an independent director, and Simon Dyer, as a non-independent director, to serve on the Board, effective January 1, 2022. These appointments fill the newly created vacancies as the Board also approved an increase of the size of the Board from 7 to 9 members. Meredith Siegfried Madden serves as the Chief Executive Officer of The NORDAM Group Inc., a private, family-owned global aerospace manufacturing company since 2011. Mrs. Madden has worked with The NORDAM Group since 1999 and served in a variety of operations and sales positions until her appointment in 2009 as Chief Operating Officer. In 2011, Mrs. Madden was appointed as Chief Executive Officer of The NORDAM Group. Prior to joining The NORDAM Group, Mrs. Madden worked in consulting at Arthur Anderson & Co. from 1996-1999. Simon Dyer is a Director and Chief Executive Officer of Dyer Holdings Pty Ltd. and various affiliated entities (collectively, the "Dyer Group") that have operated highly successful joint ventures (the "JVs") with the Company. The JVs are managed by the Dyer Group and are principally engaged in manufacturing, marketing and distribution in China, Asia and the UK of Sealy-branded bedding products. Mr. Dyer joined Dyer Holdings Pty Ltd. in 1983, was appointed Chief Executive Officer in 1986 and Chairman in 2008. Under his 35 years of leadership in the mattress and bedding industry Sealy has been established as a major bedding brand in Asia.
Tempur Sealy International, Inc. is a designer, manufacturer, distributor and retailer of bedding products. The Company operates through two segments: North America and International. North America segment consists of manufacturing, distribution and retail subsidiaries and licensees located in the United States, Canada and Mexico. Its International segment consists of manufacturing, distribution and retail subsidiaries, joint ventures and licensees located in Europe, Asia-Pacific and Latin America (other than Mexico). Its portfolio of product brands includes Tempur-Pedic, Stearns & Foster, Sealy, Cocoon by Sealy, and its non-branded offerings include private label and original equipment manufacturer (OEM) products, including mattresses, pillows and other bedding products and components. Its primary selling channels are wholesale and direct. Its products are sold through third-party retailers, and over its approximately 750 Company-owned stores and e-commerce platforms.