Foamex Names Eric B. Hudson Senior Vice President, Chief Information Officer
LINWOOD, Pa.--June 27, 2002--Foamex International Inc. , the leading manufacturer of flexible polyurethane foam products in North America today announced that it has promoted Eric B. Hudson to the position of Senior Vice President, Chief Information Officer.Mr. Hudson will oversee the Company's information technology function and will report directly to Foamex's Chief Financial and Administrative Officer, Tom Chorman. He replaces Larry Davenport, formerly CIO of Foamex, who has left the company to pursue other interests.
Mr. Hudson, 37, has been with the company since May of 2000 and previously held the position of Vice President, Information Technology. Prior to joining Foamex, Mr. Hudson held information technology positions of increasing responsibility with companies such as KOHL'S Corporation, Wachovia Corporation and Safety-Kleen Corporation. He began his career as a Senior Associate Programmer at IBM Corporation.
"With over 15 years of experience, Eric is an extremely talented professional who brings a high level of expertise to the position," said Tom Chorman. "Eric will oversee the very important effort of upgrading our IT systems, which will give us a competitive business advantage through the implementation of world-class business processes."
Mr. Chorman added, "We would also like to thank Larry Davenport for his contributions to Foamex over the years, and wish him the best of luck in his next endeavor."
About Foamex International Inc.
Foamex, headquartered in Linwood, PA, is the world's leading producer of comfort cushioning for bedding, furniture, carpet cushion and automotive markets. The Company 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 http://www.foamex.com.
Forward-Looking Statements
This press release contains, and oral statements made from time to time by representatives of the Company may contain, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, without limitation, those relating to completion of the operational restructuring as currently contemplated and the currently anticipated benefits of the restructuring, including those relating to the work force reductions, cost savings and restructuring charges from Project Transformation, the expected benefits of expanding the use of VPF technology, the Company's ability to introduce new products, enhance sales growth and margins and the outlook for the Company's financial performance. These forward-looking statements are affected by risks, uncertainties and assumptions that the Company makes about, among other things, its ability to implement customer selling price increases in response to higher raw material costs, raw material price increases, general economic conditions, conditions in the capital markets, the interest rate environment, the level of automotive production, carpet production, furniture and bedding production and housing starts, the completion of various restructuring/consolidation plans, the achievement of management's business plans, its capital and debt structure (including various financial covenants), litigation and changes in environmental legislation and environmental conditions and other factors mentioned in the documents filed by the Company with the Securities and Exchange Commission. While the Company believes that its assumptions regarding the foregoing matters are reasonable, any of the assumptions could be inaccurate, and therefore there can be no assurance that the Company's forward-looking statements will prove to be accurate. Additional information that could cause actual results to vary materially from the results anticipated may be found in the Company's most recent Form 10-K and other reports filed with the Securities and Exchange Commission. Readers should be aware that any forward-looking statement made in this press release or elsewhere by the Company speaks only as of the date on which it is made, and the Company disclaims any obligation or intent to update any of the factors listed above or forward-looking statements.