In the news release, Board of Directors, CEO and Certain Officers Electing to Donate to Tempur Sealy Foundation in Support of COVID-19 Efforts, issued 06-Apr-2020 by Tempur Sealy International, Inc. over PR Newswire, the second paragraph was incorrectly transmitted by PR Newswire. The complete, corrected release follows:
Board of Directors, CEO and Certain Officers Electing to Donate to Tempur Sealy Foundation in Support of COVID-19 Efforts
LEXINGTON, Ky., April 6, 2020 /PRNewswire/ -- Tempur Sealy International, Inc. (NYSE: TPX, "Company") announced today that Scott Thompson, Chairman and CEO, has pledged to contribute his remaining 2020 net base salary to the Tempur Sealy Foundation, which generally supports children and families in need. Furthermore, the Company's Board of Directors (the "Board") elected to forego their board fees for the remainder of 2020 which will be contributed to the Tempur Sealy Foundation. Other executives of the Company have also volunteered to contribute a portion of their base salaries to support the cause.
"The Board and leadership have joined me in pledging personal resources to provide critical funds to charitable organizations," Thompson commented. "I am proud to work with such a community-oriented Board, executive team and employee workforce. "We are thankful for the opportunity to give back to communities through working with charities who are providing assistance to children in need and their families during this unprecedented time."
Additionally, the Company continues its company-wide efforts to provide critical products and services to combat COVID-19. Tempur Sealy is the largest mattress manufacturer in the world and is utilizing its extensive operations and expertise to manufacture medical grade mattresses and other products for use by medical professionals in the fight against COVID-19. Specifically, the Company has developed specialized products and is manufacturing mattresses, medical grade foams used in medical equipment, and other related products that will be used in hospitals and medical facilities during this time of crisis. The Company is actively engaged with numerous government and healthcare organizations to assess the product need and timing of each unique situation. As a designated critical vendor in support of medical needs, the Company is focused on doing its part during the crisis.
This press release may be deemed to include statements that are "forward-looking" within the meaning of the federal securities laws, which includes information concerning one or more of the Company's plans, objectives, goals, strategies, and other information that is not historical information. When used in this release, the word "will" and variations of such a word or similar expressions are intended to identify such statements. Forward-looking statements may include, without limitation, statements relating to the Company's successful development and manufacture of mattresses and other products to support government and healthcare organizations with respect to the COVID-19 pandemic. Any forward-looking statements contained herein are based upon current expectations and beliefs and various assumptions. There can be no assurance that the Company will realize these expectations or that these beliefs will prove correct.
Other potential risk factors include the risk factors discussed under the heading "Risk Factors" in ITEM 1A of Part 1 of the Company's Annual Report on Form 10-K for the year ended December 31, 2019. There may be other factors that may cause actual results to differ materially from the forward-looking statements contained herein. The Company undertakes no obligation to update any forward-looking statement contained herein to reflect events or circumstances after the date on which such statement is made.
About the Company
Tempur Sealy International, Inc. (NYSE: TPX) develops, manufactures, and markets mattresses, foundations, pillows and other products. The Company's products are sold worldwide through third party retailers, its own stores, and online. The Company's brand portfolio includes many highly recognized brands in the industry, including Tempur®, Tempur-Pedic®, Sealy® featuring Posturepedic® Technology, and Stearns & Foster®. World headquarters for Tempur Sealy International is in Lexington, KY. For more information, visit http://www.tempursealy.com or call 800-805-3635.
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