Latex Foam taps Lorelli for CEO
By Furniture Today Staff -- Furniture Today, August 2, 2004
Shelton, Conn. — Industry supplier Latex Foam International has named as its new president and CEO Michael Lorelli, an executive with experience leading Fortune 100 businesses and private companies.
He replaces Steve Russo, who resigned earlier this year to spend more time with his family and pursue other interests.
Latex Foam International is North America's largest supplier of latex mattress components. Rick Sowerby served as interim president after Russo's departure.
Lorelli spent the past 10 years leading private equity-based companies experiencing rapid growth or requiring a turnaround. Previously, he worked for PepsiCo, as president of a $1.5 billion operating company, as president of the $1.7 billion Pizza Hut International division, and as executive vice president of Pepsi North America with responsibility for major accounts, driving trademark and channel strategies, and research and development.
"We are very excited about having Mike join LFI," said John Pouschine, managing director of Pouschine Cook Capital Management, a New York-based private equity firm and the majority shareholder of Latex Foam. "His longstanding experience in sales and marketing is a perfect fit for instilling in Latex Foam a more marketing and customer-driven culture."
Pouschine said he is confident the company will continue to upgrade its product offerings and fabrication services to its customers and execute on its planned capacity expansion.
"Latex Foam International has all the right ingredients to fulfill its mission to provide its customers with superior products and services," said Lorelli.
