Sleep Number Names Bob Ryder Interim CFO, Francis Lee Steps Down

Sleep Number Corporation announced the transition of Francis Lee from Chief Financial Officer (CFO) to interim CFO Bob Ryder, effective July 21, 2025. Lee will remain with the company until August 15, 2025, as an advisor. The company is conducting a search for a permanent CFO. The leadership change is not related to any financial, operational, or policy matters.

Sleep Number Corporation (Nasdaq: SNBR) has announced a significant leadership change with the appointment of Bob Ryder as interim Chief Financial Officer (CFO), effective July 21, 2025. Francis Lee, who had been serving as CFO, will step down from his role but will remain with the company until August 15, 2025, as an advisor to ensure a smooth transition [1].

The appointment of Ryder comes at a time when Sleep Number is working diligently to return to growth in a cost-efficient manner while staying within its debt covenants. According to Linda Findley, President and CEO of Sleep Number, the company is on track to exceed its cost reduction goals announced during the first quarter earnings call, positioning it to remain in compliance with debt covenants despite continued top-line challenges [1].

Ryder brings over 30 years of experience in finance leadership roles, having served as a senior advisor at the Boston Consulting Group and as CEO of Horsepower Advisors, LLC. He has previously held CFO positions at Resideo Technologies, Inc., Constellation Brands, IMG, and American Greetings Corporation, as well as seven advancing management positions at PepsiCo, Inc. [1].

In his new role, Ryder will oversee the Finance function with a focus on the debt structure and will work quickly and deliberately with the executive team to set the company up for long-term success. The company is currently conducting a search for a permanent CFO to replace Ryder once the transition period is complete [1].

Sleep Number Corporation, a sleep wellness company, is guided by its purpose to improve the health and wellbeing of society through higher quality sleep. The company's innovations have improved nearly 16 million lives, and its smart bed ecosystem helps people sleep better by offering adjustable comfort and personalized sleep and health insights [1].

The company will report its second quarter 2025 earnings on a call on July 30, 2025. For more details, visit ir.sleepnumber.com [1].

References:
[1] https://www.businesswire.com/news/home/20250722719475/en/