Thody sets May retirement
By Furniture Today Staff -- Furniture Today, November 12, 2001
Mississauga, Ontario — Patrick Thody will retire as chairman and chief executive officer of bedding and upholstery producer Simmons Canada at the end of May 2002, closing a 30-year career with the company.
Terence Pace, named president and chief operating officer earlier this year, will add the CEO's duties.
Thody will serve as a consultant for two years after his retirement, but won't continue on the board of directors. A new chairman will be elected.
In the early 1990s, Thody led the management buyout of what was then the Canadian division of U.S. bedding major Simmons. He also steered the company when it went public about three years ago, becoming the sole operating division of SCI Income Trust.
Thody has been active in the industry as a long-time director of the Ontario Furniture Manufacturers Assn., and twice served as president of the factory group.
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