2 Nominated for Mattress Firm Board

February 25, 2016  by in Executive Changes, Industry   

Chris Hadley and Anil Seetharam have been nominated and the election will take place at the company's 2016 annual meeting June 1.

Upon his election, Seetharam is expected to join the audit committee. 

Hadley is a managing director with Berkshire Partners, a Boston-based private equity firm that has raised eight private equity funds with aggregate capital commitments of more than $11 billion. Seetharam is a managing director with Stockbridge Investors, an investment group within Berkshire Partners focused on marketable securities with assets under management of nearly $2 billion. Berkshire Partners and Stockbridge Investors together hold an approximate 10.4 percent interest in Mattress Firm.

The company also announced the retirement of three individuals holding class II director positions at the end of their current terms. The current terms for the three directors are scheduled to expire at the 2016 annual meeting. In addition, Mattress Firm has initiated a search for a third independent director to nominate for election to the board.

"We have experienced transformational growth since our initial public offering in 2011 and our corporate governance continues to evolve to support this growth," said Steve Stagner, Mattress Firm CEO. "With the recently completed acquisition of Sleepy's, we achieved yet another monumental milestone as the first truly border-to-border and coast-to-coast, multi-brand mattress specialty retailer. Three of our directors have chosen to retire at the end of their terms after overseeing a period of tremendous growth at Mattress Firm, and we thank them for their service and unique contributions. We look forward to adding Chris and Anil to our board with their broad business experience, as well as pursuing this opportunity to search for an additional candidate to bring a new and diverse perspective to our board. We are excited about the next chapter of growth that awaits our company."