Mattress Firm Holding Corp. has added the role of chief executive officer to President Ken Murphy’s responsibilities and made Steve Stagner executive chairman and chairman of the board of directors for the Houston-based company.
The changes are part of a long-term succession plan, according to a news release.
In his expanded role, Murphy oversees all core functions of the company, from sales and marketing, through finance and operations. Stagner is focused on Mattress Firm’s strategic vision, and the integration of its recent purchase of the Sleepy’s retail chain.
Murphy, who joined Mattress Firm in 1998, was named president in 2015. During his tenure, he is credited with spearheading investments in omnichannel retailing, as well as in various employee- and community-focused programs and activities. His previous titles include chief operating officer, executive vice president of sales and operations, national vice president of sales, vice president of field and talent management, and director of training and recruiting.
Stagner assumed his role as executive chairman under a new three-year contract, with a focus on continuing to build the strategic vision, driving a successful Sleepy’s integration and communicating the Mattress Firm story to investors. Stagner has been the CEO of Mattress Firm since 2010. He oversaw the company’s initial public offering in 2011 and guided the company’s growth from $400 million in sales to more than $3.5 billion in pro forma sales in 2015.