Minneapolis-based airbed maker and retailer Select Comfort has announced that Shelly Ibach, currently the company’s chief operating officer, will succeed Bill McLaughlin as president and chief executive officer, effective June 1. Ibach also has been named to the board of directors. McLaughlin will retire from the board June 1.
Shelly Ibach
McLaughlin, who has led the publicly owned company since joining it in 2000 as president and CEO, was instrumental in the creation and launch of the Sleep Number brand in 2001, the company said. He was named to the board of directors in 2004.
Most recently, McLaughlin led the company through a successful turnaround in 2009 and 2010, which positioned Select Comfort for growth. His plans include serving as a mentor to other companies with growth potential, the company said.
“Words are not enough to thank Bill for his years of dedicated and principled leadership,” said Jean-Michel Valette, chairman of the Select Comfort board. “It’s been Bill’s belief in the company and product, commitment to the customer and focus on people and culture that ensured we are now in a position to take full advantage of our opportunity to help transform the way America sleeps.”
Ibach was named COO in June 2011. Prior to that, she was executive vice president of sales and merchandising. She joined the company in 2007 from Target Corp., where she was a senior executive.
“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,” Valette said. “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.”
Ibach has been one of the key architects of the company’s strong performance during the past three quarters, the company said.
“I’m excited to assume leadership of the company during such an important time in our evolution,” Ibach said. “Sleep Number’s differentiated products, ownership of all consumer touch points and mission-driven team mean 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.”
