LEXINGTON, Ky. (AP) -- Mattress maker Tempur-Pedic International Inc. said Monday it named Mark Sarvary as chief executive and president.
Tempur-Pedic said Sarvary will take over for H. Thomas Bryant, who is retiring Aug. 4. Bryant will continue to serve on the company's board through his current term which expires in 2009.
Sarvary is an industrial partner with private-equity firm CVC Capital Partners.
He will begin serving in his new post Aug. 4 and will also join the company's board of directors.
Shares fell 24 cents, or 3 percent, to close at $7.81.