citations for verification . please help improve this article by adding citations to reliable sources . unsourced material may be challenged and removed . january 2009 learn how and when to remove this template message leggett & platt type public traded as nyse leg s & p 500 component industry residential bedding and furniture automotive seating industrial materials founded 1883 headquarters carthage missouri united states key people karl g. glassman president & ceo revenue 3.9 billion usd 2015 operating income 487 million usd 2015 net income 325 million usd 2015 number of employees 20 000 2015 website leggett.com leggett & platt l & p based in carthage missouri is a diversified manufacturer and member of the s & p 500 index that designs and produces various engineered components and products . the firm was founded in 1883 and consists of 17 business units 20 000 employee partners and 130 manufacturing facilities located in 19 countries . citation needed contents 1 company segments 1.1 residential furnishings 1.2 commercial products 1.3 industrial materials 1.4 specialized products 2 leggett management 3 board of directors 4 company history 5 timeline 6 executive leadership past & present 7 leg stock 8 references 9 external links company segments edit residential furnishings edit leggett & platt also produces and distributes carpet cushion for residential and commercial applications . in addition they are a major distributor of geo components used in ground stabilization drainage protection erosion control and weed control . 1 commercial products edit leggett & platt is the world s leading independent manufacturer of proprietary chair controls bases and other components for work furniture . in addition they produce select lines of private label finished furniture . they are also a leading supplier of adjustable beds and fashion bed products which are sold primarily to bedding retailers and major bedding producers . 2 industrial materials edit leggett & platt is a producer of drawn steel wire . the company s three wire mills produce virtually all of the wire consumed by their other domestic business as well as supplying external customers . much of the steel rod used to produce this wire is manufactured in leggett & platt s own rod mill . they also produce and distribute wire products for various industrial applications . 3 specialized products edit leggett & platt is a designer and manufacturer of automotive seating support pneumatic and mechanical lumbar systems . they are also a supplier of titanium nickel and stainless steel tubing to the aerospace industry . it is a supplier of service van interiors and computer docking stations used in commercial vehicles . leggett management edit as of january 2016 senior corporate executives included karl g. glassman president & ceo matthew c. flanigan evp & cfo david m. desonier svp strategy and investor relations board of directors edit director joined in position company robert e. brunner 2009 retired executive vp illinois tool works inc. robert g. culp iii 2013 chairman culp inc. r. ted enloe iii 1969 managing general partner & board chair balquita partners ltd. richard t. fisher 1972 sr. managing director oppenheimer & co. matthew c. flanigan 2010 evp & cfo leggett & platt karl g. glassman 2002 president & ceo leggett & platt joseph w. mcclanathan 2005 retired president & ceo energizer household products division of energizer holdings judy c. odom 2002 retired chairman & ceo software spectrum inc. phoebe a. wood 2005 principal companieswood manuel a. fernandez 2014 retired managing director si ventures company history edit j.p. leggett c.b. platt in 1883 in carthage missouri j.p. leggett developed a new type of bedspring consisting of single cone spring wire coils formed and interlaced then mounted on a wood slat base . the bedspring could then be used as a base for the then popular cotton feather or horsehair mattresses . needing expertise in manufacturing and production he recruited his soon to be brother in law c.b. platt whose father owned and operated platt plow works into the partnership . together they produced the components of their leggett & platt bedspring which was patented in 1885 . bedspring vs. innerspring at the time of their invention bedsprings referred to cone shaped wire coiled springs attached to a wooden slat foundation used to support then popular mattresses . these mattresses were typically made of horse hair corn husks cotton feathers or another soft material . early bedsprings functioned similarly to today s box springs in their support of a mattress . however box springs are rather rigid in structure while bedsprings provide a more flexible surface . innersprings by contrast refer to the core system of wire springs that along with various types of foam and other padding materials comprise the insides of today s mattress . the mattress is usually coupled with a box spring to create a sleep set . innersprings can be coiled springs laced together continuous coil springs or individually encased springs that support a person sleeping on the mattress . the carthage market for their new product was very limited . to expand the market to a wider region mr. platt and george leggett brother of j. p. leggett would load a horse drawn wagon with bedsprings and travel to surrounding communities . often to conserve space they would load the springs and slats separately into the wagon and assemble them in a store or on an adjacent sidewalk . the partnership prospered and the business was incorporated in 1901 . the platt plow works the company built its first factory and offices in carthage in 1895 . the workforce at that time consisted of the two partners and five employees . soon after completion of the carthage plant a second factory was built in louisville kentucky . during the next 50 years three more factories were built . demand for the company s improved bedsprings was rising and a second plant was built in carthage in 1925 . the new much larger plant was located next to a railroad to allow for expanded shipments of products and supplies . in 1942 an additional factory was built in winchester kentucky which was subsequently consolidated with the louisville plant . for some time texas had proven to be a main market outlet and in 1947 a major factory was built in ennis texas . by 1947 leggett & platt consisted of 4 plants and 500 employees . although available in various models and continuously improved upon bedsprings were practically the only product leggett & platt offered until 1933 . however in that year the company began to manufacture springs for innerspring mattresses which were relatively new products in the industry and growing in popularity . thereafter the company slowly began to diversify its products within the bedding industry by producing rollaway beds and folding metal cots along with bed frames and bed rails . innerspring mattress components in 1960 harry m. cornell jr. j.p. leggett s grandson was elected president and ceo of the company taking over for his father who was mr. leggett s son in law . the company s total sales in 1960 were approximately 7 million from three states kentucky texas and missouri . determining the course and future of the company became management s primary objective . following an extensive evaluation of the company and its potential mr. cornell and his management partners concluded that leggett & platt s best opportunities for profitable growth lay in a strategy of specializing in manufacturing marketing and distributing a broad and growing line of components and related products first nationally and eventually on a world wide basis . key drivers of future sales and earnings would include aggressive internal growth initiatives coupled with an active and ongoing acquisition program . j.p. leggett s original bedspring and patent even greater success followed and leggett & platt became known as the components people . leggett & platt stock was first traded over the counter in 1967 . twelve years later on june 25 1979 top management was present in new york city to witness the stock s first day listed on the new york stock exchange . in 1985 leggett & platt grew into the fortune 500 list of the largest u.s. based manufacturing companies . in 1999 the company became part of the s & p 500 index . today leggett & platt has 130 manufacturing facilities in 19 countries . timeline edit 1883 joseph p. leggett develops and patents the first successful spiral steel coil bedspring then forms a business partnership with cornelius b. platt a blacksmith who operates the c.d. platt plow works plant in carthage missouri . 1885 leggett receives a patent for improvements on the coiled bedspring . j.p. leggett and c.b. platt begin manufacturing coiled bedsprings at the platt plow works plant . 1895 the first factory and offices are built in carthage mo. the workforce consists of the 2 partners and 5 employees . harry platt a brother of c.b. platt opens a franchise factory in louisville kentucky . 1901 the partnership of j.p. leggett and c.b. platt is incorporated under the name leggett & platt spring bed & manufacturing company . 1933 leggett & platt begins to manufacture innerspring units at its carthage plant . 1942 leggett & platt survives world war ii by working on defense contracts . 1960 harry m. cornell jr. grandson of j.p. leggett becomes president and ceo ; he begins implementing a new corporate strategy to broaden the line of component products for the bedding and furniture industries expand geographically and offer compatible products directly to furniture stores . 1967 leggett & platt s ipo initial public offering of 50 000 shares of stock at 10 per share and 1 million of convertible subordinated debentures occurs ; the stock is listed over the counter . 1971 leggett & platt stock is listed on the nasdaq and the company achieves more than 1 million in net earnings . 1976 leggett & platt exceeds the 100 million sales mark for the first time . 1977 construction begins on a new corporate headquarters outside carthage . 1979 leggett & platt is listed on the nyse new york stock exchange stock symbol leg 1983 leggett celebrates 100 years of operation . 1985 leggett is first added to the fortune 500 list of largest u.s. manufacturing companies . 1990 revenues exceed 1 billion for the first time . 1998 leggett & platt becomes part of the fortune 500 list of largest u.s. companies across all industries . 1999 leggett is included in the s & p 500 . 2007 new strategic direction announced in november . executive leadership past & present edit executive years of service j.p. leggett & c.b. platt partnership 1883 1901 j.p. leggett 1901 1921 c.b. platt 1921 1929 j.p. leggett jr. 1929 1933 f.b. williams 1933 1938 george s. beimdiek sr. 1938 1953 harry m. cornell sr. 1953 1960 harry m. cornell jr. 1960 1999 felix e. wright 1999 2006 david s. haffner 2006 2015 karl g. glassman 2016 present leg stock edit 1967 leggett & platt ipo of 50 000 shares of stock at a price of 10 per share ; the stock is traded over the counter 1971 leggett s stock is listed on the nasdaq 1979 leggett is listed on the new york stock exchange trading under symbol leg history of stock splits may 13 1969 5 for 3 jan. 15 1973 3 for 2 sept. 29 1978 3 for 2 aug. 26 1983 2 for 1 mar. 14 1986 3 for 2 jun. 15 1992 2 for 1 sept. 15 1995 2 for 1 jun. 15 1998 2 for 1 references edit http www.leggett.com residential furnishings.htm http finance.yahoo.com q pr s leg http www.fundinguniverse.com company histories leggett amp ; platt inc company history.html external links edit l & p s homepage l & p corporate overview l & p s adjustable beds homepage v t e north american mattress manufacturers casper dorel king koil sealy select