Leggett & Platt Announces Annual Meeting Results and Changes to Board of Directors

Leggett & Platt’s annual meeting of shareholders was held this morning. Shareholders elected as directors the 11 nominees proposed by the Board; ratified the selection of PricewaterhouseCoopers as the Company’s independent registered public accountant for 2023; endorsed the compensation of the Company’s named executive officers; and approved the recommended advisory vote on executive compensation every year. No other proposals were voted upon.

• Annual meeting addressed four items of business; voting aligned with Board recommendations
• Karl Glassman retired as an executive officer of the Company and continues to serve as Chairman of the Board
• Lead Independent Director Judy Odom retired; Robert Brunner appointed Lead Independent Director

As previously announced, Karl Glassman retired as an executive officer of the Company, effective today, and will continue to serve as Chairman of the Board of Directors. Karl was appointed Executive Chairman of the Board following his retirement as the Company’s CEO on December 31, 2021, a position he held since 2016. Karl was first appointed Chairman of the Board in 2020.

President & CEO Mitch Dolloff commented, “On behalf of the Company, I would like to thank Karl for his many significant contributions to Leggett & Platt over the past 41 years. Karl’s experience, insight, and dedication moved our company forward fostering an environment of mutual respect, collaboration, and continuous improvement. I am grateful for the tremendous leadership and mentorship Karl provided to me and many other employees throughout his career. I look forward to Karl’s continued service as Chairman of the Board.”

In addition, Judy Odom retired from the Board of Directors, effective today, at the conclusion of her current term. Judy has been a director since 2002 and served on the Human Resources and Compensation Committee and Nominating, Governance and Sustainability Committee and as the Lead Independent Director. 

Chairman Karl Glassman commented, “On behalf of the entire Board of Directors, we express our sincere gratitude to Judy for her many years of outstanding service to the Company and its shareholders. The Company greatly benefited from Judy’s guidance, leadership, and long-standing commitment.”

Robert Brunner will succeed Judy as Lead Independent Director, effective today. Bob has been a director since 2009 and serves on the Human Resources and Compensation Committee and Nominating, Governance and Sustainability Committee. “Bob’s leadership and board experience with global diversified manufacturers has provided valuable insight over the years,” said Karl. “I’m confident that he will provide exceptional guidance and oversight of the Board.”

For more information: Visit Leggett’s website at www.leggett.com.

About Leggett & Platt

Leggett & Platt (NYSE: LEG) is a diversified manufacturer that designs and produces a broad variety of engineered components and products that can be found in most homes and automobiles. The 139-year-old Company is comprised of 15 business units, approximately 20,000 employees and 130 manufacturing facilities located in 17 countries. Leggett & Platt is the leading U.S.-based manufacturer of: a) bedding components; b) automotive seat support and lumbar systems; c) specialty bedding foams and private label finished mattresses; d) components for home furniture and work furniture; e) flooring underlayment; f) adjustable beds; and g) bedding industry machinery.

Source: Leggett & Platt, Incorporated