Latex Foam International L.L.C. has selected Michael Lorelli, who has 20 years experience as a senior executive with global Fortune 100 companies, as its new president and CEO.
Lorelli replaces Stephen Russo, who resigned May 31 to spend more time with his family in Florida and pursue other interests.
Hiring Lorelli is a major plus for Latex Foam, according to Frank Beafore, the firm's vice president of manufacturing and technology. ``Mike Lorelli is the guy to take us to the next level,'' Beafore said at the International Latex Conference, held July 20-21 in Fairlawn, Ohio. ``He'll absolutely get us there.''
The Shelton, Conn.-based latex mattress and pillow manufacturer selected Lorelli for the top posts because ``his long-standing experience in sales and marketing is a perfect fit for instilling in Latex Foam a more marketing and customer-driven culture,'' said John Pouschine, managing director of Pouschine Cook Capital Management L.L.C., a New York-based private equity firm and majority shareholder of Latex Foam.
Lorelli has held key posts with PepsiCo Inc., including president of a PepsiCo operating company; president of the firm's Pizza Hut International division, where he was responsible for operations in 92 countries; and vice president of PepsiCo North America, with responsibility for all major sales accounts, overseeing trademark and channel strategies along with research and development.
He spent the last 10 years leading private equity-based companies that were experiencing rapid growth or required a turnaround, a LFI spokesman said.
``I loved my years with those companies,'' he said from his office at LFI in Shelton. ``I enjoyed racing with the thoroughbreds.''
Lorelli, who already made his home in a nearby Connecticut city, is an engineer with an MBA in marketing, which means he feels comfortable at both ends of the rubber latex product industry. However, the sales and management end is likely where he'll spend the majority of his time and effort, he said.
The new president and CEO said he's excited to lead LFI through its next stage of growth.
``Latex Foam International has all the right ingredients to fulfill its mission to provide its customers with superior products and services,'' Lorelli said. ``There's nothing broken here. My mission is to build capacity and simultaneously build our sales and marketing (segments).''