SHELTON, Conn. (April 8)—Steve Russo has resigned as president and CEO of Latex Foam International L.L.C., effective May 31, to spend more time with his family and pursue other interests.
Rick Sowerby, the firm's chief financial officer, has been named interim president. Latex Foam has retained Christian & Timbers to launch an executive search to find a permanent replacement for Russo.
"The primary driver for my departure is personal life balance," Russo said. "For over three and a half years, I have been commuting weekly between my home in Florida and LFI's headquarters in Connecticut."
Russo helped lead the company through a difficult period following a May 2001 fire that destroyed the firm's production plant in Ansonia, Conn. A year later, Latex Foam had a new 208,000-sq.-ft., state-of-the-art latex mattress and pillow manufacturing facility operating in Shelton.