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Tempur Sealy CEO to step down

Reuters

May 11 (Reuters) - Mattress maker Temper Sealy International Inc said Chief Executive Mark Sarvary would step down, two days after shareholders voted to remove him from the company's board.

Chief Operating Officer W. Timothy Yaggi will serve as interim CEO, Tempur Sealy said.

The ouster of Sarvary from the board was engineered by H Partners, the company's largest shareholder, which has been pressing for a change in leadership to improve performance.

The company said H Partners CEO Usman Nabi had been named as an independent director. (Reporting by Nayan Das in Bengaluru)