(From Leggett & Platt)Somnigroup International Inc. (NYSE: SGI, "Company" or "Somnigroup") today announced that Tyson Hagale has been appointed as President of Leggett & Platt, effective immediately. Mr. Hagale will report to Karl Glassman, Chief Executive Officer of Leggett & Platt. Mr. Hagale will have oversight responsibility for all of Leggett & Platt.
"I am delighted that Tyson has been elevated to this new role at the company," stated Mr. Glassman. "Over the course of his 25-year career at Leggett & Platt, Tyson has attained broad experience across multiple facets of our business, including mergers and acquisitions, strategic planning, and operational leadership.
"During the last five years while serving as President of our Bedding Products segment, he played an instrumental role in executing a major restructuring to improve profitability in the face of industry headwinds. Tyson is well-suited to help me lead Leggett & Platt as we embark on this exciting new chapter as part of the Somnigroup family."
"Naming Tyson as President of Leggett & Platt is reflective of Somnigroup's deep respect for the legacy Leggett & Platt management team in general and Tyson's accomplishments specifically," commented Scott Thompson, Chairman and CEO of Somnigroup. "The Somnigroup team and I have worked with Tyson for many years. He is well-respected in the bedding industry and, importantly, understands the Leggett & Platt business beyond bedding. His commitment to the core values that have guided Leggett & Platt for over 100 years will ensure the continued success of the company under his enhanced leadership role."
Mr. Hagale will be based out of Leggett & Platt's office in Carthage, Missouri.
"Naming Tyson as President of Leggett & Platt is reflective of Somnigroup's deep respect for the legacy Leggett & Platt management team in general and Tyson's accomplishments specifically," commented Scott Thompson, Chairman and CEO of Somnigroup. "The Somnigroup team and I have worked with Tyson for many years. He is well-respected in the bedding industry and, importantly, understands the Leggett & Platt business beyond bedding. His commitment to the core values that have guided Leggett & Platt for over 100 years will ensure the continued success of the company under his enhanced leadership role."
Mr. Hagale will be based out of Leggett & Platt's office in Carthage, Missouri.
1 comment:
Curious what Leggett & Platt will pay Tyson Hagale as President?
Remember Tyson Hagale's Previous Position Paid the Following - Compensation Breakdown - as the Executive Vice President and President of Bedding Products at Leggett & Platt.
Base Salary: $600,000 (set for the 2025/2026 period, up from $580,000 in 2024).
Total Compensation: Approximately $2.53 million in total reported compensation according to recent proxy filings (including stock awards and other incentives).
I am sure that all the people working in the Manufacturing Plants feel at ease when the Upper Management has made so much money and yet could not Manage this 143-Old Company and prevent the Sale to another Company.
The confidence in any decision that this Board has made is lack-luster at most! Didn't Karl Glassman give the same speech when he hired and promoted J. Mitchell Dolloff to CEO, who ran Leggett & Platt into the ground, driving their Stock Price down (83.62%) - know that's an Endorsement from Karl Glassman - Who should have been Fired with the Rest of the Board!
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