by Serta Simmons Bedding announces that Jim Loree, a seasoned executive and a member of the SSB Board of Directors, has been appointed as chief executive office, effective July 1. He succeeds Mark Genender, interim chief executive officer, who will remain on the SSB Board of Directors as chairman and transition with Loree over the coming months.
Loree brings significant consumer durables and retail channel experience, having served in C-suite roles at Stanley Black & Decker, Inc. for almost 25 years, including serving as the company’s CEO from 2016 to June 2022.
During his tenure, Loree led growth strategies to increase revenue from $2 billion to $16 billion. Under Loree’s leadership, the company enhanced its advanced manufacturing capabilities, increased operational excellence and responsible business practices, and was recognized as a best workplace for innovators as well as for diversity and inclusion.
“It’s been a privilege to serve as Interim CEO, and I’m proud of the entire SSB team’s commitment to our turnaround efforts,” says Genender. “Over the last eight months, we have successfully relaunched a large portion of our product portfolio, enhanced critical retail relationships, initiated national advertising campaigns, and improved service levels and operating metrics across our plant network. These accomplishments have only been possible through coordination and teamwork across all functions of the organization. We are beginning to see the success of these efforts through regained market share, and we are well positioned for future growth and success.”
I am honored to have the opportunity to lead the Serta Simmons Bedding team into the next phase of our company’s turnaround, grounded in progress and profitable growth,” says Loree. “Mark and the leadership team have laid a strong foundation for success, and I look forward to building on the turnaround strategy and developing a strong culture of accountability focused on driving financial results.”
“Jim’s appointment follows a thoughtful search for a permanent CEO by our board of directors. We are confident he is the right choice to help us continue accelerating our turnaround efforts and drive financial results,” Genender adds. “He brings deep experience from Stanley Black & Decker and General Electric and a record of delivering operating and financial results, and I look forward to working closely with him as board chairman as we continue to expand our business and drive profitability.”
