Southerland Purchased by Employees
May 19, 2010,
NASHVILLE, Tenn.-Mattress manufacturer Southerland has been acquired by employees through an Employee Stock Ownership Plan.
The transaction closed on May 17, and the company is now led by its co-presidents, David Corbin and Stephen Russo (former president and chief executive officer of Restonic), and its executive vice president and chief financial officer, Bryan Smith. Herman Southerland has retired as chairman and CEO, while Marty Southerland, Trey Southerland and other members of the family remain with the company "in key roles," according to a Southerland statement.
Other Articles By Author
Von Tobel Cites Brass Textures Among Top Trends
HFN's DIGITAL EDITION
2017 State of the Industry Report
Cautious Optimism, Mixed Results
Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.
ALSO IN THIS ISSUE:
- TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
- Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
- N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.