CARTHAGE, MO — Leggett & Platt, a supplier of components for furniture and bedding, on Nov. 13 announced plans to eliminate one-fifth of its portfolio, representing $1.2 billion in revenue, and boost shareholder returns by 12% to 15%, according to Home Furnishings Business.
“We are making significant, necessary changes to the way we assess our portfolio of businesses, and to how we manage our asset base,” said CEO and President David Haffner. “We intend to be better stewards of shareholders’ capital, generate significantly more free cash and return a larger amount of that cash to our investors.”
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