UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of report (Date of earliest event reported): DECEMBER 18, 2020
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||
(Address of principal executive offices) (Zip Code)
(800 ) 878-8889
(Registrant’s telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ||||||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | ||||||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | ||||||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | ||||||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of exchange on which registered | ||||||
Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01. Other Events.
On December 18, 2020 Tempur Sealy International, Inc. distributed a press release (the "Press Release") announcing updates on the Company's environmental sustainability efforts. A copy of the Press Release is furnished herewith as Exhibit 99.1 and is incorporated into this Item 8.01 by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit Number | Description | |||||||
| 99.1 | ||||||||
| 104 | Cover page interactive data file (embedded within the Inline XBRL document). | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: December 18, 2020
| Tempur Sealy International, Inc. | ||||||||
| By: | /s/ Bhaskar Rao | |||||||
| Name: | Bhaskar Rao | |||||||
| Title: | Executive Vice President & Chief Financial Officer | |||||||
Tempur Sealy Announces New Long-Term Sustainability Goal
–Commits to Carbon Neutrality for Global Operations by 2040
LEXINGTON, KY, December 18, 2020 – Tempur Sealy International, Inc. (NYSE: TPX, “Tempur Sealy” or “Company”) today announced a commitment to achieve carbon neutrality in their global operations by 2040.
Tempur Sealy Chairman and CEO Scott Thompson said, “We have already taken meaningful steps toward reducing or offsetting Scope 1 and 2 greenhouse gas emissions from our wholly-owned operations. This year we sourced 100% renewable energy for our wholly-owned U.S. and European manufacturing operations, and expect to continue doing so in future years. We are on track to install a solar power array at our largest mattress manufacturing operation in Albuquerque, New Mexico in early 2021, which is expected to generate enough solar energy to power all of the plant’s assembly lines. We are also driving zero-landfill waste initiatives across our global organization, with the goal of our U.S. and European wholly-owned manufacturing operations achieving zero-landfill by the end of 2022. The long-term carbon neutral goal we announced today will further our progress towards reducing our environmental footprint across our global operations.”
Tempur Sealy will reduce or offset 100% of Scope 1 and 2 greenhouse gas emissions from its wholly-owned manufacturing, logistics and retail operations by the year 2040. This will reduce both Scope 1 emissions (direct emissions from sources it owns or controls) and Scope 2 emissions (emissions attributable to the electricity it consumes). The Company plans to achieve this long-term goal through absolute emission reductions from the continued use of renewable energy and operational efficiency improvements, as well as the funding of carbon offsets.
In addition, Tempur Sealy intends to extend its sustainability efforts to its global supply chain by encouraging its suppliers to establish their own sustainability goals. Through this initiative, Tempur Sealy aims to increase sustainability awareness and initiatives within its supplier base with the goal of reducing its Scope 3 emissions (emissions from sources it does not directly own or control) and reducing the environmental footprint of its supply chain.
Thompson continued, “This new long-term goal reflects the continued commitment by Tempur Sealy’s Board of Directors and management team to improving our communities and environment. Our zero-landfill and renewable energy initiatives have already delivered a significant reduction of our environmental footprint to-date. In this next phase of our efforts, we will continue to implement industry-leading sustainability initiatives to achieve carbon neutrality by 2040. Our global workforce is mobilized to implement solutions that limit our environmental impact, benefit our community, and drive shareholder value.”
Forward-Looking Statements
This press release contains statements that may be characterized as "forward-looking," within the meaning of the federal securities laws. Such statements might include information concerning one or more of the Company's plans, guidance, objectives, goals, strategies, and other information that is not historical information. When used in this release, the words "commitment," "plans," “intends,” and variations of such words or similar expressions are intended to identify forward-looking statements. These forward-looking statements include, without limitation, statements relating to the Company's expectations regarding its sustainability initiatives. Any forward-looking statements contained herein are based upon current expectations and beliefs and various assumptions. There can be no assurance that the Company will realize these expectations or that these beliefs will prove correct.
About the Company
Tempur Sealy is committed to improving the sleep of more people, every night, all around the world. As a global leader in the design, manufacture and distribution of bedding products, we know how crucial a good night of sleep is to overall health and wellness. Utilizing over a century of knowledge and industry-leading innovation, we deliver award-winning products that provide breakthrough sleep solutions to consumers in over 100 countries.
Our highly recognized brands include Tempur-Pedic, Sealy® featuring Posturepedic® Technology, and Stearns & Foster® and our non-branded offerings include value-focused private label and OEM products. Our distinct brands allow for complementary merchandising strategies and are sold through third-party retailers, our Company-owned stores and e-commerce channels. This omni-channel strategy ensures our products are offered wherever and however consumers want to shop.
Lastly, we accept our global responsibility to serve all stakeholders, our community and environment. We continue to implement programs consistent with our responsibilities.
Investor Relations Contact
Aubrey Moore
Investor Relations
Tempur Sealy International, Inc.
800-805-3635
Investor.relations@tempursealy.com