Mattress Firm Names Steve Rusing CEO Amid Integration with Tempur Sealy.

Mattress Firm President Steve Rusing has taken on the role of CEO following Scott Thompson's appointment as chairman, CEO, and president. The combination of the two roles will further the integration and synergies of the business. Mattress Firm has seen a surge in sales of Tempur Sealy brands, with a mid-40s percentage of total sales in 2024 expected to reach the low 50s this year.

Mattress Firm President Steve Rusing has been elevated to the role of CEO, following Scott Thompson's appointment as chairman, CEO, and president. This dual leadership appointment aims to streamline operations and enhance synergies within Somnigroup International, the parent company that oversees Mattress Firm, Tempur Sealy, and Dreams [1].

The appointment of Rusing as CEO coincides with a significant shift in market dynamics. Following a period of direct-to-consumer competition that led to Mattress Firm's bankruptcy and store closures in 2018, the retailer has seen a resurgence. The company now operates 2,200 brick-and-mortar stores and plans to invest $150 million in store refreshes over the next three years [1].

One notable development is the surge in sales of Tempur Sealy brands. In 2024, Tempur Sealy represented a mid-40s percentage of Mattress Firm's total sales, a figure expected to reach the low 50s this year [1]. This growth is a result of the integration and synergy efforts under the new leadership structure.

Scott Thompson, who has been serving as interim CEO since February 2025, expressed confidence in Rusing's ability to lead Mattress Firm. "Over these past few months, Steve has made a tremendous impact on the direction and strategy of Mattress Firm," Thompson said. "Under his leadership, the team has sharpened their operational focus, building momentum, and driving solid performance as seen in the results we reported earlier this month. With Steve at the helm, I am confident that Mattress Firm's best chapters are still ahead" [1].

This appointment signals a significant step in Somnigroup's strategy to leverage its brands and market position to achieve long-term growth and value for shareholders. The company is on track to achieve at least $100 million in annual run rate net cost synergies, with an estimated $15 million this year, $50 million next year, $35 million in 2027, and "opportunities thereafter" [1].

References:
[1] https://www.retaildive.com/news/mattress-firm-president-ceo-steve-rusing/757875/