DeMartini Named Acting CEO of Purple; Megibow Steps Down
Purple Innovation announced that Robert DeMartini has been appointed acting chief executive officer and a member of the board of directors, effective immediately.
He succeeds Joe Megibow, who is stepping down as CEO and a member of the board. Megibow will serve as an adviser to the new CEO to ensure a smooth transition, officials said.
DeMartini served as president and CEO of New Balance from 2007 to 2019. During his tenure, New Balance increased its annual sales to more than $4 billion.
Prior to joining New Balance, DeMartini worked at Procter & Gamble for 20 years, beginning in its food and beverage division and working in management roles with the Gillette Company, North American Snacks and Millstone Coffee. He most recently served as president and CEO of USA Cycling.
“I am honored to take the helm at Purple, a company that has quickly established itself as a leader in the premium mattress category through its proprietary comfort solutions,” DeMartini said. “With a powerful portfolio of innovative products that help people feel and live better, vertically integrated manufacturing capabilities, and omni-channel distribution strategy, I believe Purple is well positioned to further expand its market share in the years ahead.”
Purple, based in Lehi, Utah, makes its bedding products and sells them through its direct-to-consumer online channels, traditional retail partners, third-party online retailers, and its owned retail showrooms.
