Sleep Number Announces Leadership Transition
January 27 2023 - 1:26PM
Business Wire
Executive Vice President and Chief Financial
Officer David Callen Stepping Down
Company Provides Preliminary Full Year 2022 Net
Sales and Earnings Per Diluted Share Ahead of Earnings Call
Scheduled for February 22nd
Sleep Number Corporation (Nasdaq: SNBR) today announced
that Executive Vice President and Chief Financial Officer David
Callen is stepping down from his position to pursue other
opportunities, effective January 30. He will continue to serve in a
financial advisory role through March 3, as the company executes a
smooth transition through the report of its 2022 financial
results.
Callen has been a part of the Sleep Number executive leadership
team since April 2014, overseeing the company’s financial
performance during its transition from mattress retailer to
wellness technology leader. His departure is not the result of
disagreements with the company on any subject, including its
operations, policies, or practices.
Sleep Number Executive Vice President and Chief Human Resources
Officer, Chris Krusmark, will assume the role of interim Chief
Financial Officer, effective January 30, until a permanent
replacement is appointed. He will work closely with the company’s
experienced financial leadership team, including Dave Schwantes,
Vice President of Finance - Investor Relations and FP&A.
Krusmark started with Sleep Number in 2005 and held several
financial leadership roles supporting operations, sales, real
estate, marketing, and product innovation. He then transitioned to
Vice President of Sales Operations, Field Services and Training in
2015. In 2020, he was promoted to Senior Vice President and Chief
Human Resources Officer. Prior to joining Sleep Number, Krusmark
served in the assurance and advisory practices as a Certified
Public Accountant with EY and Arthur Andersen. Sleep Number has
retained Korn Ferry, a leading executive search firm, to conduct a
search for a permanent CFO.
“On behalf of the Board and our team, I’d like to thank David
for his many contributions to Sleep Number,” said Shelly Ibach,
Chair, President and CEO, Sleep Number. “He has played a
significant role in strengthening our competitive advantages,
progressing our capital deployment, and delivering value to
stakeholders. We are grateful for his dedication and wish him well
in his next endeavors.”
Based on preliminary financial results, the company estimates
FY2022 net sales of $2,114* million and earnings per diluted share
of $1.60. These results are based on the company’s current estimate
of its results for the year ended December 31, 2022, and remain
subject to change based on the completion of closing and audit
procedures.
Sleep Number will release its FY2022 financial results after
market close on Wednesday, February 22, 2023. Management will host
its regularly scheduled conference call to discuss the company’s
results at 5 p.m. EST (4 p.m. CST; 2 p.m. PST). To access the
webcast, please visit the investor relations area of the Sleep
Number website at https://ir.sleepnumber.com. The webcast replay
will remain available for approximately 60 days.
*Updated to reflect estimated net sales of $2,114 million based
on preliminary financial results versus the previously reported
$2,037 million
About Sleep Number Corporation
Sleep Number is a leader in sleep and wellness technology. Our
360® smart bed platform connects the physical and digital worlds,
creating an immersive, adaptive, and individualized sleep health
experience. Quality sleep is vital for physical, mental, and
emotional wellbeing; our smart beds deliver exceptional sleep by
automatically sensing and effortlessly adjusting to the needs of
each sleeper. Through partnerships with the world’s leading health
and research institutions, we are advancing sleep science with our
18 billion hours of highly accurate, longitudinal sleep data from
millions of sleepers in our Smart Sleeper(SM) community.
Sleep Number is a company with purpose, with over 5,000
mission-driven team members who are dedicated to improving the
health and wellbeing of society through higher quality sleep. We
have improved more than 14 million lives and are committed to
lifelong relationships with our smart sleepers.
For life-changing sleep, visit SleepNumber.com or one of our
almost 675 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 future leadership
transitions and the company’s expectations for full-year 2022
diluted EPS and net sales, 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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version on businesswire.com: https://www.businesswire.com/news/home/20230127005399/en/
Media Contact Julie Elepano Sleep Number Public Relations
Julie.Elepano@sleepnumber.com
Investor Contact Dave Schwantes Sleep Number Investor
Relations Dave.Schwantes@sleepnumber.com
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