Stadium Capital Nominates Four to Sleep Number Board

Dow Jones

2024-12-02

By Josh Beckerman

Stadium Capital, which has criticized Sleep Number's performance and its chief-executive-search process, is nominating four people to the company's board, including former chairman and interim CEO Patrick A. Hopf.

The other nominees are Jeffrey T. Jackson, Jessica M. Prager and Kevin Baker.

Stadium, which has a Sleep Number stake of about 11.7%, had a one-year cooperation agreement with the company that recently expired. The firm has complained that Sleep Number has had lower shareholder returns than Tempur Sealy International and said a reconstituted board would be better positioned to select a new CEO.

Last week, Sleep Number said it engaged extensively with Stadium and said it was "surprised when Stadium made the highly unusual demand that it be granted direct participation in the CEO succession process." The company said it has a "best-in-class CEO succession process."

Sleep Number shares rose Nov. 25 after Stadium called for board changes. Shares were recently up 4.2%, to $15.63, Monday.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

December 02, 2024 16:00 ET (21:00 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Hopf. \n</p>\n<p>\n   The other nominees are Jeffrey T. Jackson, Jessica M. Prager and Kevin Baker. \n</p>\n<p>\n  Stadium, which has a Sleep Number stake of about 11.7%, had a one-year cooperation agreement with the company that recently expired. The firm has complained that Sleep Number has had lower shareholder returns than Tempur Sealy International and said a reconstituted board would be better positioned to select a new CEO. \n</p>\n<p>\n  Last week, Sleep Number said it engaged extensively with Stadium and said it was \"surprised when Stadium made the highly unusual demand that it be granted direct participation in the CEO succession process.\" The company said it has a \"best-in-class CEO succession process.\" \n</p>\n<p>\n  Sleep Number shares rose Nov. 25 after Stadium called for board changes. Shares were recently up 4.2%, to $15.63, Monday. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Josh Beckerman at josh.beckerman@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 02, 2024 16:00 ET (21:00 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4178","symbol_name":"家庭装饰零售","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2488649985","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2488649985","pubTimestamp":1733173200,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Stadium Capital, which has criticized Sleep Number's performance and its chief-executive-search process, is nominating four people to the company's board, including former chairman and interim CEO Patrick A. 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Shares were recently up 4.2%, to $15.63, Mo","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4178":"家庭装饰零售","SNBR":"Sleep Number Corporation"},"translate_title":"Stadium Capital提名四人进入睡眠号码委员会","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SNBR":0.9},"content_text":"By Josh Beckerman \n\n\n \n\n\n  Stadium Capital, which has criticized Sleep Number's performance and its chief-executive-search process, is nominating four people to the company's board, including former chairman and interim CEO Patrick A. Hopf. \n\n\n   The other nominees are Jeffrey T. Jackson, Jessica M. Prager and Kevin Baker. \n\n\n  Stadium, which has a Sleep Number stake of about 11.7%, had a one-year cooperation agreement with the company that recently expired. 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