Sleep Number announces organizational changes

The company “announced a series of changes to its Executive Leadership Team reporting to Findley as part of an organizational redesign. Melissa Barra, formerly Executive Vice President, Chief Sales and Services Officer, has been appointed to the newly created position of Executive Vice President, Chief Product and Enterprise Strategy Officer. Chris Krusmark, formerly Executive Vice President, Chief Human Resources Officer, has been appointed Executive Vice President, Chief Retail and People Officer. The redesign also included broader changes across senior level roles. By consolidating overlapping capabilities and eliminating overspecialized roles, the company is now a more streamlined organization that the company believes will drive efficiency, increase accountability and accelerate decision-making to strengthen performance within a range of economic environments. With this change, Sleep Number (SNBR) reduced corporate management roles by 21%. With new leadership in place, the company anticipates further streamlining under each new function over the coming weeks. The company has also taken aggressive, strategic actions to reduce expenses without compromising its topline, including marketing and research and development investments, through a sharper focus on near- and intermediate-term customer value. These actions are anticipated to reduce the company’s cost structure by $80 to $100 million before restructuring costs on an annualized basis as compared to the first quarter of 2025. Approximately 35% of these costs are fixed, including research and development and general and administrative costs; 50% are structural changes to the marketing model for more efficiency; and 15% are volume-driven.”