Mattress Firm Board of Directors Announces the Resignation of Chief Executive Officer

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Apr 09, 2019, 17:48 ET

HOUSTON, April 9, 2019 /PRNewswire/ -- The Mattress Firm Board of Directors today accepted the resignation of Executive Chairman, President and Chief Executive Officer Steve Stagner.

"We are celebrating Steve Stagner's incredible 23-year contribution to building Mattress Firm into the number one specialty mattress retailer. Steve's leadership has been critical through this period where we needed to return the business to positive momentum," said the Mattress Firm Board. "The Board is pleased with the speed of sales recapture, profitability and liquidity improvement to date. Mattress Firm is in a strong go-forward position as we look to the next chapter."

Stagner served as CEO from February 2010 to March 2016 and oversaw Mattress Firm's successful initial public offering in 2011. He began his career owning and operating the largest franchisee in the Mattress Firm network prior to joining the corporate office in 2005.

"It has been my honor and privilege to have served the passionate and hardworking team at Mattress Firm for more than two decades. I believe now is the right time to leave Mattress Firm and make way for fresh leadership because I am confident in the Board's expertise and strong business foundation," said Stagner. "I am looking forward to spending more time with my family after a busy year and will continue to root for Mattress Firm as they evolve and grow."

The Board has begun an executive search for a new CEO. During the transition, the Board of Directors will work closely with the senior management team to execute a strategy for operational growth.

"We look forward to building on the momentum we have achieved to strengthen the company, putting the customer at the center of all we do, and innovating so that we can thrive in this new retail era," said the Mattress Firm Board.

About Mattress Firm
Founded in 1986, Mattress Firm strives to help customers find the beds they want at the price that fits their budget. Mattress Firm is America's largest mattress specialty retailer, with more than 2,500 neighborhood stores in 49 states across the country and a dedication to delivering the best beds at the best value. Mattress Firm has a broad selection of mattresses and bedding accessories from leading manufacturers and brand names, including Serta®, Simmons®, tulo™, Sleepy's®, Chattam & Wells® and Purple. Committed to serving its communities, the Mattress Firm Foster Kids program, in partnership with the Ticket to Dream Foundation, hosts three collection drives a year in communities nationwide to help foster children get better sleep so they can shape a better future.

SOURCE Mattress Firm