Sleep Number Issues Statement Regarding Shareholder Letter
13 Septembre 2023 - 8:31PM
Business Wire
Sleep Number Corporation (“Sleep Number” or the “Company”)
(Nasdaq: SNBR), a wellness technology leader, today issued the
following statement regarding the press release from Stadium
Capital Management, LLC (“Stadium Capital”), one of the Company’s
shareholders:
The Sleep Number Board and management team
are committed to acting in the best interests of the Company and
all of its shareholders. They maintain regular communication with
the Company’s shareholders and welcome all constructive input that
furthers the goal of enhancing shareholder value.
To this end, members of the Sleep Number
Board and management team have engaged in regular discussions with
Stadium Capital to better understand its views with respect to the
Company, and they intend to continue that dialogue. The Company’s
Independent Lead Director has also met with Stadium Capital several
times separately from management. The Board has moved expeditiously
to put together a proposal that demonstrates that Sleep Number has
listened closely to Stadium Capital and offered an opportunity for
Stadium Capital to participate in the selection of a new
independent director.
Sleep Number is confident in the Company’s
strategy and remains intensely focused on continuing to strengthen
its brand, culture and distinct competitive advantages to drive
meaningful value for shareholders, while managing ongoing
macro-environment challenges.
The Sleep Number Board is comprised of ten
highly qualified directors, nine of whom are independent and three
of whom have joined the Board in the last four years. Together our
directors have the skills, diversity and expertise to oversee the
execution of the Company’s strategy.
About Sleep Number
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 22 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 675 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 release relating to future plans and the
Company’s strategy 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 release.
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version on businesswire.com: https://www.businesswire.com/news/home/20230913373177/en/
Julie Elepano Sleep Number Public Relations
julie.elepano@sleepnumber.com
David Schwantes Sleep Number Investor Relations
David.schwantes@sleepnumber.com
Sleep Number (NASDAQ:SNBR)
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