(TRINITY) -- Sealy Corporation President and Chief Executive Officer Lawrence J. Rogers will retire next year after a 33-year career at the company.  Rogers will stay at the helm until a successor is appointed.

"During his tenure as CEO, he has guided the company through some of the most tumultuous times that we have seen in both the industry and the U.S. economy, while advancing Sealy's status as the preeminent mattress company in the world," said Paul J. Norris, Non-Executive Chairman of the Sealy Board of Directors.

"After more than three decades at Sealy, I have decided that the time is right for me to retire, knowing that I will leave a company that is well-positioned, despite the ongoing difficulties in the macroeconomic environment," said Rogers.

The company's Board of Directors has formed a search committee to identify a new CEO.  The Board has also retained an executive search firm to advise the Board on potential candidates.