Mattress Firm CEO Resigns, Chairman Takes Over

Mattress Firm CEO and President Ken Murphy is stepping down from his position, with Executive Chairman and Chairman of the Board Steve Stagner assuming chief executive responsibilities, effective March 1.

The joint decision “reflects the need for a singular voice of leadership for the company as it navigates the next phase of its growth story,” according to a company statement.

Mattress Firm is under heavy pressure from recent bedding disruptors such as Casper, Leesa, Tuft & Needle and Purple. These retailers have gained popularity in recent years as consumers have become more comfortable buying mattresses online. Additionally, these newer companies have arguably…