Serta Simmons Holdings announced today that Bob Sherman will step down as president and CEO of Serta International, along with senior vice president of marketing and merchandising Barbara Bradford.
The current CEO of Simmons Bedding Co., Gary Fazio, will oversee both Serta and Simmons as CEO of Serta Simmons Holdings, but the companies “will continue to maintain separate product development, marketing and sales divisions,” according to officials.
Serta Simmons Chairman David Swift said in a statement, “Bob has been a true leader in the mattress industry. On his path to building the leading brand in the mattress business, he also delivered one of the most successful product launches and some of the most successful marketing campaigns in history.”
This announcement follows one of Serta’s most successful years in the industry, as the brand saw sales increase by 26.7 percent last year, earning the company $1.47 billion and solidifying its place as the number one bedding manufacturer.
Sherman has been in the bedding industry for the past 45 years and with Serta for the last 25, while Bradford has 42 years of industry experience. There was no reason given for their departures, which are effective as of today.