Criterion Brock | Installer of carpet to the apartment replacement market | 2015
PRIVATE
EQUITY RELATIONSHIPS
Apollo
J.W. Childs
New Mountain Capital
Thomas H. Lee
WAFRA
Wedbush Capital
Weinberg Capital
BOARDS SERVED
I've served on the boards of diverse public, private, nonprofit, and professional organizations, contributing leadership in areas like governance, strategy, risk
CHARLIE EITEL
CHIEF EXECUTIVE OFFICER
Seasoned visionary leader with overfourdecades of unparalleled expertise in transforming and revitalizing organizations.
PROFESSIONAL SUMMARY
Over the past 40+ years, I have had the privilege of leading companies as a CEO and/or COO, focusing on building resilient teams with a balanced approach. These teams integrate both the human side and the financialaspects of new ideas achieving a “brain balance” resulting in “ferocious cooperation” that maximizes shareholder value.
We have successfully guided numerous companies through financial turnarounds, doubling revenues, andensuring sustainable growth and operational excellence.
My experience includes serving as CEO, COO, Interim CEO, and Board Member for over 20 companies across multiple industries
My legacy is characterized by turning around companies with a soft approach while delivering strong financial results for shareholders and employees. I believe the key to a successful financial turnaround lies in a commitment to the well-being of people and empowering them to build a thriving culture.
CAREER HIGHLIGHTS
Serta Simmons Bedding (SSB) LLC | Jul 2023 – Oct 2023
Led a team to successfully reposition SSB for financial stability during Chapter 11 bankruptcy(2023)
Simmons Bedding LLC | 2000 – 2008
Achieved significant financial growth at Simmons, doubling revenue and income Contributed to a successful exit strategy, with Simmons being sold for $1.1 billion in 2003. Recognized as one of the "Fortune 100 Best Companies to Work For."
Interface | COO| Nov 1993 – Jul 1999
Doubled revenue and tripled operating income while leading Interface, the world's largest manufacturer of carpet tile. Fostered a positive company culture, earning recognition as a "Fortune 100 Best Company to Work For" on two consecutive years
Carriage Industries | COO| 1981 – 1986
Led a turnaround at Carriage Industries, growing revenue tenfold and achieving profitability. Oversaw a successful IPO in 1984, valuingthe company at $30 million
management, and stakeholder communication.
Public Companies:
Carriage Industries | Acquired by Berkshire Hathaway | 1981 –1986
Collins & Aikman | Acquired by Tarkett) | 1987 -1993
Interface Inc. | NASDAQ: TILE | 1993 – 1999
Ladd furniture | Acquired by LaZ-Boy | 1997-2000
Duke Realty | NYSE: DRE | Acquired by Prologis in 2022 for $28B | 1999 – 2022
Serta Simmons Bedding LLC | 2000 – 2010 | 2023 for 3 months
Mattress Firm | 2013 – 2017
Flex Steel | 2019 - 2020
Private Companies:
American Fidelity Assurance Company | 1999 – 2024
City Mattress | 2010 – 2013
Criterion Brock | 2010 – 2013
WS Packaging | Commercial Printing | 2014 - 2018
Aierloom | 2019 – 2020
Cenergistic | 2021 - 2022
Professional Organizations (Non-Profits):
Society of International Business Fellows | 1986 – 1995
World President’s Organization | 1987 - 2010
Executives for Global Security | 2000 – 2008
PUBLICATIONS
Charlie Eitel, Simmons Co. | Wall Street Journal | 2004
WORK EXPERIENCE
Serta Simmons Bedding LLC | CEO | Jul 2023 – Oct 2023
During challenging times, we mobilized a seasoned team of industry veterans when SSB confronted Chapter 11 Bankruptcy in January 2023. Assembling resources swiftly, we navigated the company throughthis critical phase, assuming roles as interim CEO and board member to strategically reposition SSB for sustained success. Our proactiveness and unwavering commitment to organizational resilience were instrumental during this pivotal period.
Furniture Today Interview: A familiar CEO returns to Serta Simmons Bedding
Cenergistic | COO | Nov 2021 – May 2022
Leveraged my diverse industry experience to collaborate with the leadership team on refining their mission and brand messaging. This clarity helped Cenergistic better communicate their value proposition to clients and strengthen their market position.
Standard Furniture Manufacturing | CEO | Mar 2020 – Sep 2020
Led Standard Furniture through a critical period, joining the company just before the COVID-19 crisis. Implemented strategic right-sizing measures to ensure the company's survival and return to profitability within six months. Owned by Atherian Partners and has been merged with Albany Furniture.
WS Packaging Group | Chairman and CEO
| Apr 2015 – Feb
2018
My journey with WS Packaging Group, one of the largest commercial printers in North America, began in April 2015 when I assumed the role of CEO, having previously served on the board since May 2014. From July 2017 until January 2018, I had the privilege of serving as Chairman.
During my four-year tenure as a board member and later CEO, we increased the company’s value by over $200 million. This remarkablegrowthculminatedinthesaleofWSPackagingGroup to Platinum Equity Partners for $380 million.
Eitel & Armstrong | Co-founder | Nov 2009 – Nov 2014
Co-founded Eitel & Armstrong alongside Jeff Armstrong, a longtime friend and former Head of M&A at Wells Fargo, leveraging our combined experience to advise and support middle-market companies. Over a five-year period, the firm played a key role in the turnaround of over 15 companies. In 2014 I sold interest to Jeff to return to new CEO roles.
Leading change in Simmons (Case Studies A-E) | Author:
Amy C. Edmonton | Harvard Business School | Nov 2005
AUTHOR
Eitel Time
TURNAROUND SECRETS
Harcourt College Publishers |
ISBN: 0-9645953-0-3 | 1995
Mapping Your Legacy A HOOK-IT-UP JOURNEY
The Peregrinzilla Press | ISBN: 09645953-3-8 | 1998
84 Quotes by Charlie Eitel
Charles Eitel Consulting | ISBN: 979-8-218-06378-8 | 2016
KEYNOTE SPEAKER
SigmaNu HQ | College of Chapters | 2012
SigmaNu HQ | College of Chapters | 2013
GUEST SPEAKER
Harvard Business School | 2007
Darden | 2015
AWARDS
City of Hope | Children’s Cancer Research | Spirit of Life Award | 2004
Oklahoma State University (OSU) | Hall of Fame | 2005
Sigma Nu Fraternity (National Chapter) | Hall of Fame | 2007
E&Y Entrepreneur of the Year (Consumer Products) | USA
Southeast | 2008
College of Business (OSU) | 100 for 100 Honoree | 2014
Simmons Bedding Company
We transformed SSB from a financially struggling entity into a thriving business. We doubled revenue from $600 million to $1.2 billion and increased EBITDA from $60 million to $157 million. We introduced groundbreaking innovations, suchas the “non-flip” mattress design and the luxury Beautyrest Black line, setting new industry standards. By implementing LEAN manufacturing processes, we revolutionized operations, significantly enhancing efficiency. In 2003, we sold the company to T.H. Lee Partners for $1.1 billion, a transaction celebrated as the topmid-size deal of the year on Wall Street.
Interface | COO | Nov 1993 – Jul 1999
During my tenure as the COO of Interface, theworld’s largest carpet tile manufacturer, we doubled revenue from $600 million to $1.2 billion and tripled operating income from $50 million to $150 million. We pioneered the “Quarter Turn” of carpet tile, which minimized stain visibility and enhanced product appeal. Our team expanded operations by opening new manufacturing facilities in Thailand and China, serving globalmarkets in over 40 countries. Additionally, we spearheaded a cultural transformation, earning recognitionas a “Fortune 100 Best Company to Work For” twice in a row.
Collins & Aikman Floor Coverings Inc. | CEO
| Jun 1987 – Oct 1993
I joined Collins & Aikman, a high-end manufacturer of commercial carpet, specializing in institutionaland corporate markets, during a financial crisis, with the company losing $2 million per month in operating income on $100 million revenue. Through strategic leadership and effective management, we transformed the financial performance, achieving $24 million in operating income on $130 million in revenue. This turnaround, regarded as one of the most dramatic in the history of the carpet industry, laid the foundation for the company’s continued success under Tarkett Inc.
Carriage Industries | COO | 1981 – 1986
In 1981, I joined Carriage Industries, a manufacturer of recreational vehicles. At the time, the company had annual revenue of $8 million and operating losses. Over the next four years, we implemented strategies that resulted in organic revenue growth to $80 million, and the company achieved a healthy operating income of $12 million. This period culminated in a successful IPO in 1984, valuing the company at $30 million. In 2001, Carriage Industries became part of the Berkshire Hathaway portfolio through Shaw Industries.
