The Mattress Firm board of directors has accepted the resignation of executive chairman, president and CEO Steve Stagner.
The board reported that it has begun an executive search for a new CEO. During the transition period, the board said it will work closely with the senior management team to execute an operational growth strategy.
“We are celebrating Steve Stagner’s incredible 23-year contribution to building Mattress Firm into the number one specialty mattress retailer,” the board stated. “Steve’s leadership has been critical through this period where we needed to return the business to positive momentum. 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.”