Houston — Mattress Firm, Inc., the nation's largest specialty mattress retailer, has announced that Ken Murphy will step down as CEO and president and Steve Stagner, executive chairman and chairman of the board, will assume the additional responsibilities of CEO effective March 1.
The joint decision by Murphy and the board of directors reflects the need for a singular voice of leadership for the company as it navigates the next phase of its growth story.
"Ken has been an integral part of growing our company, and we are forever grateful for his incredible 20-year impact. His charismatic leadership style has contributed greatly to our culture at Mattress Firm and has inspired our entrepreneurial zeal for many years and he will be dearly missed," says Stagner.
Stagner, who has been with Mattress Firm for more than 20 years and served as CEO from February 2010 to March 2016, will assume direct leadership of operations of the company.
Founded in 1986, Houston-based Mattress Firm has more than 3,300 stores across 49 states. In 2016, Mattress Firm was acquired by Steinhoff International Holdings N.V. and currently operates as a subsidiary of Steinhoff.
For more information, visit www.mattressfirm.com.
SOURCE: Mattress Firm