Sleep Number Appoints Francis Lee to Executive Vice President and Chief Financial Officer
27 Juillet 2023 - 10:01PM
Business Wire
Lee brings a wealth of financial and
operational experience from technology-focused, consumer-oriented
companies.
Sleep Number Corporation (Nasdaq: SNBR), a wellness technology
company, today announced the appointment of Francis Lee to
Executive Vice President (EVP) and Chief Financial Officer (CFO),
effective August 14, 2023. He will assume the role from Chris
Krusmark, EVP and Chief Human Resources Officer, who has held the
position of Interim CFO since January 2023.
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Today, Sleep Number Corporation announced
the appointment of Francis Lee to Executive Vice President and
Chief Financial Officer, effective August 14, 2023. Lee brings a
wealth of financial and operational experience from
technology-focused, consumer-oriented companies. (Photo: Business
Wire)
Lee has extensive experience in corporate finance and strategy;
his leadership spans consumer product, retail, and technology
companies, including Nike, Gap, Inc., and Wyze Labs, an AI-powered,
smart home innovator. Most recently, as Wyze Labs CFO, Lee
increased cash flow and profitability through a business model
evolution from hardware to software with recurring revenue,
emphasizing customer lifetime value.
Prior to Wyze, Lee spent 13 years with Nike, including as CFO of
Nike Japan, where he drove double-digit growth and margin
expansion. He served as Vice President, Global Marketing Finance, a
primary partner to the Chief Marketing Officer; Vice President of
Finance, responsible for worldwide revenue and margin planning; and
Vice President, Enterprise Strategic Investments. He also led
corporate FP&A for industry-leading returns. At Gap, Inc., he
worked in corporate strategy and business development. Earlier in
his career, Lee developed capital allocation strategies as a
consultant to Fortune 500 companies for shareholder value creation.
He holds a bachelor’s degree from Massachusetts Institute of
Technology and an MBA from the Kellogg School of Management at
Northwestern University.
“We’re pleased that our comprehensive search led us to Francis.
His experience in operational transformation for consumer value and
increased profits will be catalysts for our evolving business model
and differentiated strategy as we drive long-term superior
shareholder value,” said Shelly Ibach, Chair, President and CEO,
Sleep Number. “Francis’s deep expertise and personal values
complement our business and purpose-driven culture. We’re excited
to welcome him to Sleep Number.”
“I’m thrilled to join Sleep Number to have a positive impact on
peoples’ lives,” said Lee. “As the company realizes its strategic
vision of becoming a connected sleep health leader, I look forward
to working with Shelly and the rest of this passionate team to
drive sustainable, profitable growth and further strengthen Sleep
Number’s total shareholder return.”
Krusmark will resume his position of EVP and Chief Human
Resources Officer. “I wish to thank Chris for his exceptional
leadership as interim CFO. We appreciate his significant
contributions to the business, team and the CFO search process,”
Ibach said.
Sleep Number also announced its second quarter 2023 earnings
today, which can be found on the Sleep Number newsroom.
About Sleep Number Corporation
Sleep Number is a wellness technology company. We are guided by
our purpose to improve the health and wellbeing of society through
higher quality sleep; to date, our innovations have improved over
14.5 million lives. Our wellness technology platform helps solve
sleep problems, whether it’s providing individualized temperature
control for each sleeper through our Climate360® smart bed or
applying our 21 billion hours of longitudinal sleep data and
expertise to research with global institutions.
Our smart bed ecosystem drives best-in-class engagement through
dynamic, adjustable, and effortless sleep with personalized digital
sleep and health insights; our millions of smart sleepers are loyal
brand advocates. And our nearly 5,000 mission-driven team members
passionately innovate to drive value creation through our
vertically integrated business model, including our exclusive
direct-to-consumer selling in 670 stores and online.
To learn more about life-changing, individualized sleep, visit a
Sleep Number store near you, our newsroom and investor relations
sites, or SleepNumber.com.
Forward-looking Statements
Statements used in this news release relating to future plans,
such as the impacts of leaders on our evolving business model are
forward-looking statements subject to certain risks and
uncertainties. Additional information concerning these, and other
risks and uncertainties, is contained in the company’s filings with
the Securities and Exchange Commission (SEC), including the Annual
Report on Form 10-K, and other periodic reports filed with the SEC.
The company has no obligation to publicly update or revise any of
the forward-looking statements in this news release.
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version on businesswire.com: https://www.businesswire.com/news/home/20230727761642/en/
Julie Elepano Senior Director, Public Relations
Julie.elepano@sleepnumber.com
Dave Schwantes Vice President, Investor Relations
David.schwantes@sleepnumber.com
Sleep Number (NASDAQ:SNBR)
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