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Largest investor of Sleep Number calls for a new CEO and board refresh, citing underperformance.
Sleep Number's largest investor, Stadium Capital Management, demands a new independent search for the company's CEO and a refreshed board, citing significant underperformance compared to competitors.
The company's shares initially rose but later fell in after-hours trading.
Sleep Number has defended its process and noted recent efforts to engage with Stadium, including adding two recommended directors to the board.
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El inversor más grande de Sleep Number pide un nuevo CEO y actualización de la junta, citando el bajo rendimiento.