Grosfeld Quitting Sure Fit
December 20, 2004-- Home Textiles Today,
After four months spent dividing his time between his own business in Miami and serving as CEO of Sure Fit, based here, Salo Grosfeld is planning to step down from the latter position.
Grosfeld took the helm at Sure Fit in mid-August when the company was acquired out of bankruptcy by New York-based investment firm D.E. Shaw. Shaw does not hold any stake in Grosfeld's business, J.R. United. Grosfeld holds no stake in either Sure Fit or Shaw.
Grosfeld will remain at Sure Fit through the end of January.
Grosfeld told HTT he made the decision to step down as CEO of Sure Fit during a family trip to Disney World in Florida late last month. A father of 6 children, ages 20, 8, 4, 2 and twin 1-year-olds, he said his 8- and 4-year-olds were instigators.
“They didn't want to leave Disney because they said if I went back to work I wouldn't see them again,” Grosfeld said. “I figured it's a lot easier for Sure Fit to get a new CEO than for my kids to get a new dad.”
Grosfeld said he spent at least three days each week in New York at Sure Fit's offices and the rest of his time in Miami at J.R. United's headquarters.
“I was working seven days a week, 20-hour days,” he said. “I figured at some point it would improve, but it never did.”
Sure Fit has no immediate plans to fill the CEO position, according to Jean Smith, chief operating officer.
“The view right now is that there are a lot of talented people here,” Smith said. “We are well into the turn-around.”