Houston — Mattress Firm Holding Corp., the nation’s largest specialty mattress retailer, has appointed Ken Murphy as president and chief executive officer and Steve Stagner will assume the role of executive chairman and chairman of the board of directors.
The changes, which are effective immediately, represent part of a long term succession plan for the organization and will allow for better division of responsibilities for the two executives. Murphy will assume direct leadership of the full operations of the enterprise while Stagner will focus on the strategic vision for the company and the integration of the Sleepy’s acquisition.
“It is with great pride that I announce Ken Murphy’s appointment as president and CEO of Mattress Firm. He is the right leader at this time in our company growth story as we turn our focus from achieving our goal of becoming border-to-border and coast-to-coast with recent acquisitions, to continuing to grow through a relentless commitment to operational excellence,” says Stagner. “We have a tremendous opportunity ahead now that we have assembled a national footprint. Ken has been preparing for this role throughout his career.”
Murphy joined Mattress Firm in 1998 and has held multiple essential leadership roles within the company since that time. Since being named president in 2015, Murphy has driven the strategic framework which prioritizes company investments and includes areas such as an increased focus on digital and omnichannel initiatives, employee focused programs that encourages a highly performing and highly engaged culture, and community centric activities designed to resonate with millions of customers on a local level. During his tenure with the company, he has also served as president, chief operating officer, executive vice president of sales and operations, national vice president of sales, vice president of field and talent management, and director of training and recruiting. In his expanded role as president and CEO, Murphy now has responsibility for all core functions of the company, including sales, marketing, merchandising, finance and operations.
Stagner has served as the CEO of Mattress Firm since 2010, oversaw the company’s initial public offering in 2011, and guided the company’s growth from $400 million in sales to over $3.5 billion in pro forma sales in 2015.
With more than 3,500 company-operated and franchised stores across 48 states, Mattress Firm Holding Corp. has the largest geographic footprint in the United States among multi-brand mattress retailers. Founded in 1986, Houston-based MFRM is the nation’s leading specialty bedding retailer whose brands include Mattress Firm, Sleepy’s and Sleep Train. For more information, visit www.mattressfirm.com.
SOURCE: Mattress Firm