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Leggett & Platt Announces Executive Appointments

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- Paul Hauser will lead the Residential Furnishings Segment - Dennis Park will head the Commercial Fixturing & Components Segment - Vincent Lyons hired as new VP of Technology and Development - Elliott Lyons hired as head of the Commercial Vehicle Products Group Fortune 500 diversified manufacturer Leggett & Platt reported the recent promotion or hiring of four executives. These changes reflect the company’s renewed emphasis on product development, recognize the growth of the company’s Commercial Vehicle Products (CVP) platform to critical mass, and fill vacancies created by the previously announced promotions of David S. Haffner (to CEO from COO) and Karl G. Glassman (to COO from segment president). Paul R. Hauser, age 55, a senior vice president of the company, was promoted to President of the Residential Furnishings Segment, succeeding Karl Glassman in that role. He will report directly to the COO, and will have responsibility for the company’s three major residential groups: a) Bedding, b) Home Furniture, and c) Fabric, Foam & Fiber. Mr. Hauser has been with Leggett & Platt since 1980, and has headed the company’s bedding operations since 1999. He is an extremely competent and seasoned sales and operating executive who enjoys the full support of Leggett’s senior leadership. Dennis S. Park, age 51, a 27-year Leggett veteran, was promoted to senior vice president of the company, and to President of the Commercial Fixturing & Components Segment, succeeding David Haffner in that role. Reporting to him will be the Fixtures & Display operations, the Office Furniture Components business, and the Plastics division. Mr. Park’s strong sales and marketing skills, augmented with his operational experience, provide him with an excellent background for this new role. He will report directly to the COO, and will retain (from his previous role) oversight for the company’s Consumer Products unit. incent S. Lyons, age 40, was hired into a newly-created position of Vice President of Technology and Development, located in Carthage and reporting directly to the COO. Mr. Lyon’s previous employers include General Motors, Lear Corporation, Visteon Corporation, and Maytag Corporation. While at Maytag, he was Vice President of both Research & Development and Engineering for Refrigeration Products. Mr. Lyons holds a B.S. in Mechanical Engineering (Summa Cum Laude) from Southern University, an M.S. in Mechanical Engineering from Stanford, and a subsequent M.B.A. He has a noteworthy list of accomplishments, including being among the winners of the national 1989 Black Engineer of the Year Award. Elliott J. Lyons, age 40, has been hired as the new Group President of the company’s Commercial Vehicle Products Group, which now provides approximately 4% of the company’s sales. He will be based in Atlanta and report directly to Jack Crusa (President of the Specialized Products Segment). Mr. Lyon’s educational background parallels that of his twin brother, Vincent, and includes a B.S. in Mechanical Engineering (Summa Cum Laude) from Southern University, an M.S. in Mechanical Engineering from Stanford, and a subsequent M.B.A. His previous employers include General Motors, United Technologies, and International Truck & Engine. Mr. Lyons also possesses a long list of accomplishments, and shares the national 1989 Black Engineer of the Year Award with his brother. COMPANY DESCRIPTION: Leggett & Platt is a FORTUNE 500 diversified manufacturer that conceives, designs and produces a broad variety of engineered components and products that can be found in virtually every home, office, retail store, and automobile. The company serves a broad suite of customers that comprise a “Who’s Who” of U.S. manufacturers and retailers. The 123-year-old firm is composed of 29 business units, 34,000 employee-partners, and more than 300 facilities located in over 20 countries. Leggett & Platt is North America’s leading independent manufacturer of: a) components for residential furniture and bedding; b) retail store fixtures and point of purchase displays; c) components for office furniture; d) non-automotive aluminum die castings; e) drawn steel wire; f) automotive seat support and lumbar systems; g) carpet underlay; h) adjustable beds; and i) bedding industry machinery for wire forming, sewing and quilting. Primary raw materials include steel and aluminum. Main operations include metal stamping, forming, casting, machining, coating, welding, wire drawing, and assembly.

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