Sleep Number Corporation (Nasdaq: SNBR) today announced that Executive Vice President and Chief Financial Officer David Callen is stepping down from his position to pursue other opportunities, effective January 30. He will continue to serve in a financial advisory role through March 3, as the company executes a smooth transition through the report of its 2022 financial results.
Callen has been a part of the Sleep Number executive leadership team since April 2014, overseeing the company’s financial performance during its transition from mattress retailer to wellness technology leader. His departure is not the result of disagreements with the company on any subject, including its operations, policies, or practices.
Sleep Number Executive Vice President and Chief Human Resources Officer, Chris Krusmark, will assume the role of interim Chief Financial Officer, effective January 30, until a permanent replacement is appointed. He will work closely with the company’s experienced financial leadership team, including Dave Schwantes, Vice President of Finance – Investor Relations and FP&A. Krusmark started with Sleep Number in 2005 and held several financial leadership roles supporting operations, sales, real estate, marketing, and product innovation. He then transitioned to Vice President of Sales Operations, Field Services and Training in 2015. In 2020, he was promoted to Senior Vice President and Chief Human Resources Officer. Prior to joining Sleep Number, Krusmark served in the assurance and advisory practices as a Certified Public Accountant with EY and Arthur Andersen. Sleep Number has retained Korn Ferry, a leading executive search firm, to conduct a search for a permanent CFO.
“On behalf of the Board and our team, I’d like to thank David for his many contributions to Sleep Number,” said Shelly Ibach, Chair, President and CEO, Sleep Number. “He has played a significant role in strengthening our competitive advantages, progressing our capital deployment, and delivering value to stakeholders. We are grateful for his dedication and wish him well in his next endeavors.”
Based on preliminary financial results, the company estimates FY2022 net sales of $2,037 million and earnings per diluted share of $1.60. These results are based on the company’s current estimate of its results for the year ended December 31, 2022, and remain subject to change based on the completion of closing and audit procedures.
Sleep Number will release its FY2022 financial results after market close on Wednesday, February 22, 2023. Management will host its regularly scheduled conference call to discuss the company’s results at 5 p.m. EST (4 p.m. CST; 2 p.m. PST).