Select Comfort Corporation (NASDAQ: SCSS) today announced that, effective June 1, 2012, chief operating officer (COO), Shelly Ibach, will succeed Bill McLaughlin as president and chief executive officer (CEO) of the company. In anticipation of her new role, Ms. Ibach also has been appointed to the board of directors, effective immediately. As part of the succession, Mr. McLaughlin also will retire as a director of the board, effective June 1, 2012.
Shelly Ibach, Select Comfort's chief operating officer, will succeed Bill McLaughlin as president and chief executive officer of the company effective June 1, 2012. (Photo: Craig VanDerSchaegen Photography)“Select Comfort is committed to setting a new standard in sleep for the consumer. This transition in leadership underscores the board’s confidence in both the magnitude of the opportunity and the strength of the operating team,” explained Jean-Michel Valette, chairman, Select Comfort Board of Directors. “Shelly’s deep experience in retail, brand and product combined with her talent for developing high-performing, customer-centric teams make her the right leader to build on the strong foundation established by Bill.” For the past 18 months, Ms. Ibach has been one of the key architects behind the company’s profitable-growth formula – an integrated, customer-focused strategy that combines increasing brand and store awareness with accelerated local-market development; elevating the in-store and service experience; and advancing product innovation. The result has been sustained profitable growth, as most recently demonstrated by the company’s strong 2011 performance, reported Feb. 8, 2012. “I’m excited to assume leadership of the company during such an important time in our evolution,” said Ms. Ibach. “Sleep Number’s differentiated products, ownership of all consumer touch points and mission-driven team, means we are in the unique position to offer an unparalleled brand experience for customers. By fully leveraging these attributes, we can transform a large, undifferentiated industry and become an iconic brand.”