Sleep Number Announces Board Leadership Changes
March 14 2022 - 9:00AM
Business Wire
Sleep Number’s Board leadership succession
reflects Company’s commitment to strategic consistency and strong
corporate governance
Today Sleep Number Corporation (Nasdaq: SNBR), the sleep
health, science, research and innovation leader, announced its
Board of Directors has unanimously elected Shelly R. Ibach as Board
Chair, effective May 12, 2022, following the Company’s Annual
Meeting of Shareholders. Ibach will continue to serve as Sleep
Number’s President and CEO. She succeeds Jean-Michel Valette, who
served as Board Chair since May 2010 and will remain on the
Board.
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Sleep Number President and CEO Shelly R.
Ibach was unanimously voted Board Chair by the Company's Corporate
Board. (Photo: Business Wire)
The Company also announced that the Board unanimously elected
Michael J. Harrison, an independent director since 2011 and current
chair of the Corporate Governance and Nominating Committee, as
independent Lead Director, also effective on May 12, 2022.
Harrison’s appointment reflects the Company’s ongoing commitment to
robust independent board leadership, which will be detailed in the
Company’s 2022 Proxy Statement.
Ibach has led Sleep Number since June 2012. During her tenure,
the Company has sustained superior stakeholder value creation which
has resulted in nearly 14 million lives improved and almost 14
billion hours of proprietary sleep data from its award-winning 360®
smart beds. Ibach’s passion for developing meaningful consumer
value, combined with her visionary guidance, has turned the
one-time adjustable mattress retailer into a purpose-driven, sleep
tech wellness company that is poised to lead in the emerging
connected sleep health space.
“Shelly’s strategic vision and perceptual acuity, including the
innovation of the 360 smart bed and the creation of a values-based
organization, have transformed Sleep Number,” said Valette,
speaking on behalf of the Board. “We believe Shelly is the best
person to lead the Company both as CEO and Chair, providing
innovative and steady leadership in a dynamic marketplace and
inspiring the company’s culture of individuality and purpose. The
Board is equally pleased that Mike, given his extensive board
governance and experience with other consumer brands, will step
into the role of independent Lead Director.”
“I am honored to lead this incredible Company as Chair and CEO,”
said Ibach. “I look forward to achieving our ambitious vision with
our mission-driven Board, management team and over 5,000 team
members who deliver on our purpose to improve the health and
wellbeing of society through higher quality sleep. We thank
Jean-Michel for his years of dedication, wise counsel and
leadership as Board Chair, and welcome Mike as he assumes the
independent Lead Director role.”
The leadership announcement is concurrent with the release of
Sleep Number’s 2022 Corporate Sustainability Report, which can be
found here.
About Sleep Number
Individuality is the foundation of Sleep Number. Our purpose
driven company is comprised of over 5,000 passionate team members
who are dedicated to our mission of improving lives by
individualizing sleep experiences. We have improved nearly 14
million lives and are positively impacting society’s wellbeing
through higher quality sleep.
Our award-winning 360® smart beds are informed by science. They
learn from over one billion sleep sessions of highly-accurate, real
world sleep data – the cumulation of almost 14 billion hours’ worth
- to automatically adjust to each sleeper and provide effortless
comfort and proven quality sleep. Our 360 smart beds deliver
individualized sleep health reports and insights, including a daily
SleepIQ® score, and are helping to advance meaningful sleep health
solutions by applying sleep science and research.
For life-changing sleep, visit SleepNumber.com or one of our 650
Sleep Number® stores. More information is available on our newsroom
and investor relations sites.
Forward-looking Statements
Statements used in this news release relating to future plans,
events or performance, such as statements about Board leadership
transitions, are forward-looking statements subject to certain
risks and uncertainties. Additional information concerning these
and other risks and uncertainties is contained in the company’s
filings with the Securities and Exchange Commission (SEC),
including the Annual Report on Form 10-K, and other periodic
reports filed with the SEC. The Company has no obligation to
publicly update or revise any of the forward-looking statements in
this news release.
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Julie Elepano Sleep Number Public Relations
Julie.Elepano@sleepnumber.com
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