Sleep Number Corporation, 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.
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's experience
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.
values-based organization
We believe Shelly is the best person to lead the Company both as CEO and Chair, providing innovative and steady leadership"
“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.”
Achieving mission and vision
“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.”