Furniture World News Desk on
6/26/2024
Jim Loree, New Serta CEO
Serta Simmons Bedding, LLC (SSB), a leading global sleep company, today announced that Jim Loree, a seasoned executive and a member of the SSB Board of Directors, has been appointed as Chief Executive Officer, 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,” said 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.”
“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 added. “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.”
“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,” said 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.”
About Jim Loree: Jim Loree is the former chief executive officer of Stanley Black & Decker, Inc., a position he held from 2016 to June 2022. He also served on the Board of Directors of Stanley Black & Decker, Inc. during that time. As CEO, Loree led more than 60,000 employees across 60 countries who make power tools, hand tools, outdoor power equipment and industrial products.
Loree originally joined Stanley Black & Decker, Inc., then Stanley Works, as Vice President and CFO in 1999, and was promoted to President and Chief Operating Officer in 2009 and then CEO in 2016. During his nearly 25 years at the company, Loree led growth strategies to increase revenue from $2 billion to $16 billion. Prior to joining Stanley Works, Loree spent 19 years at General Electric Company in a combination of leadership positions in finance, strategic planning and operating management.
Loree holds a bachelor’s degree in economics from Union College, and serves on the board of Whirlpool Corporation, United Natural Foods, Inc., and Quinnipiac University, and is also a director of the Jim and Rebecca Loree Foundation.
About Serta Simmons Bedding: Serta Simmons Bedding (SSB) is one of the leading global sleep companies. With a 150-year heritage in delivering industry-leading sleep solutions and a mission to help people sleep better so they can live healthier lives, the company is headquartered in Doraville, GA, and owns top brands such as Serta®, which has five other independent licensees, Beautyrest®, Tuft & Needle® and Beauty Sleep®. For more information about SSB and its brands, visit https://sertasimmons.com/.