Sleep Innovations Names Five Members to Board of Directors

Furniture World News

Sleep Innovations, a leading manufacturer and marketer of memory foam bedding, sleep products and accessories, announced the naming of five new members to the Company’s Board of Directors. Diane Price Baker will serve as Chair of the Board and is joined by Sleep Innovations’ Chief Executive Officer and President, Richard A. Heller, Michael C. Thompson, Todd A. Robinson, and Francis M. Scricco. The prestigious group of new Directors was named as part of the Company’s recent emergence from its voluntary Chapter 11 financial reorganization. “It is truly an exciting time for Sleep Innovations. With our successful emergence from Chapter 11 in just five short months, I am joined on the new Company Board of Directors by an extraordinary group of corporate leaders,” said Rick Heller, Chief Executive Officer. “Diane, Mike, Todd and Fran bring Sleep Innovations decades of experience building, growing and turning around some of America’s leading companies and their strategic thinking, business skills and personal drive will help us to take advantage of opportunities in the marketplace and achieve future growth.” “Sleep Innovations has a history of developing and delivering to customers innovative, high quality, value oriented products across the markets it serves,” added Diane Price Baker, Chair of the Board. “This reputation, the support of the Company’s key constituents and an exceptional management team were the reasons that the Company was able to complete its restructuring so quickly in an extremely difficult economic environment. I am looking forward to working with Rick, his management team and my fellow Board members to help Sleep Innovations reach its full potential.” The new Directors are: Diane Price Baker – Ms. Baker, a noted turnaround expert, currently serves on the Board of Directors of Fortunoff Holdings LLC and Oneida Ltd. and was previously a member of the Board of Directors of ION Media Networks, Inc., R.H. Donnelly Corporation and Mercator Software. She was Executive Vice President and Chief Financial Officer of Atari, Inc. and held senior executive positions at The New York Times Company, R.H. Macy & Co. and Salomon Brothers. Richard A. Heller – Mr. Heller currently serves as Chief Executive Officer and President of Sleep Innovations. Prior to joining the Company, he was a partner with Carl Marks Advisory Group LLC, where he gained extensive experience in the turnaround and restructuring of distressed middle market companies. Mr. Heller has also served as Chief Executive Officer of the Steak-umm Company LLC and held senior positions with Hunt-Wesson, Inc., Lea & Perrins, Inc., Richardson Vicks, Inc. and Frito-Lay, Inc. Michael C. Thompson – Mr. Thompson is Vice President of the Operations Team of American Capital Ltd., a private equity firm and global asset manager. He has over 25 years of domestic and international experience in both consumer and commercial businesses with a focus on strategic planning, business development, acquisitions, marketing, sales, engineering and product development. Mr. Thompson has held senior positions with Flexi-Mat Corporation, Newell Rubbermaid and Merillat Industries, a division of Masco Corporation. Todd A. Robinson – Mr. Robinson is the Chief Executive Officer of Southwood Group, LLC, a holding company affiliated with Oshkosh Door Company, Oregon Door LLC and Corrosion Guard Products LLC. He previously held senior executive positions with Wilkinson Hi-Rise LLC, McKenzie Forest Products LLC, Interplane Glass Company and The Boise Company. Francis M. Scricco – Mr. Scricco is presently a member of the Board of Directors of Sirva, Inc. and Tembec, Inc. and was previously on the Board of Directors of Magnatrax Corporation and Arrow Electronics, Inc. He has served as Senior Vice President of Avaya, Inc. and held executive officer positions with Arrow Electronics, Inc., Fisher Scientific International, Inc., Inglis Ltd./Whirlpool Corp. and Proteon. Mr. Scricco was also a Vice President and Partner at Towers Perrin, Inc. and held various positions with General Electric Company and Boston Consulting Group. About the Company: Sleep Innovations, Inc. is a leading manufacturer of memory foam sleep products including pillows, mattress toppers, and mattresses. Since its founding, the company has led the industry with innovative technology and breakthrough new products to deliver luxurious comfort and therapeutic support with its pressure relieving memory foam. Sleep Innovations has an exceptional track record of delivering superior quality and value products and programs to consumers for leading retailers such as Costco, Sam’s Club, BJ’s, Walmart, Kmart, Macy’s, Sears, and Kohl’s. Sleep Innovations is proud to manufacture 100% of its memory foam products in the United States.