Foamex board cites management changes, Televantos out
LINWOOD, Pa. -- The Board of Directors of Foamex International Inc. (NASDAQ:FMXI), the world's leading producer of comfort cushioning for carpet, announced that Peter W. Johnson joined the company as president and COO.
Thomas Chorman, executive vice president and CFO, assumed additional responsibilities in the new position of Chief Administrative Officer. Former president and CEO John Televantos resigned by mutual agreement with the board.
Foamex has implemented a new management structure in which Johnson will be responsible for all line functions and Chorman for all administrative and finance functions. Reporting to Johnson are Foamex's business units, research & development, marketing and sales, and product development. Reporting to Chorman are strategy and finance, treasury, accounting, purchasing, distribution and logistics, and information technology.
Foamex, headquartered in Linwood, Pa., also manufactures high-performance polymers for diverse applications in the industrial, aerospace, defense, electronics and computer industries as well as filtration and acoustical applications for the home. For more information visit the Foamex web site at www.foamex.com.