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.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。