Sleep Number Corporation announced its Board of Directors has unanimously elected Shelly R. Ibach as Board Chair, effective May 12, 2022, following the Company's Annual Meeting of Shareholders. Ibach will continue to serve as Sleep Number's President and CEO. She succeeds Jean-Michel Valette, who served as Board Chair since May 2010 and will remain on the Board.

The Company also announced that the Board unanimously elected Michael J. Harrison, an independent director since 2011 and current chair of the Corporate Governance and Nominating Committee, as independent Lead Director, also effective on May 12, 2022. Harrison's appointment reflects the Company's ongoing commitment to robust independent board leadership, which will be detailed in the Company's 2022 Proxy Statement.