Turmoil again at Mattress Firm? CEO suddenly exits six months after bankruptcy

Two mattress companies, CEOsare, suddenly lost their jobs in another adjustment in a volatile industry, raising questions about the future of their company\'s sales partnership.
Mattress CEO and executive chairman Steve Stana resigned this week after the company went bankrupt and closed about 640 stores after the expansion boom.
An analyst said that Stagner\'s exit may be necessary to open the door for the mattress company, for the previous One-
Time supplier Tempur Sealy International.
Mattress, the largest mattress retailer in the United States, did not specify a permanent replacement or temporary leader, which said that while looking for a new CEO, the board would \"work closely with the senior management team, implement an operational growth strategy \".
Stagner, the CEO of mattress, held the position for the first time from 2010 to 2016 and then took over again in March 2018.
\"Through his leadership, the mattress company successfully got rid of bankruptcy in the fall of 2018 and is now in a position to pursue a disciplined, healthy retail strategy, A spokesman for the mattress company, Sunni Goodman, said in an email.
\"Steve knows that the mattress company is in a good place and he feels it\'s the right time to pursue other interests and spend time with his family.
We thank him for his guidance and commitment over the years.
Goodman declined to comment on speculation that Stagner\'s exit from the mattress company had something to do with Tempur Sealy\'s desire to reconnect.
His exit came almost at the same time as Houston\'s main supplier, mattress maker Simmons Bedding.
Mattress Company revealed that its CEO Michael Traub will also leave.
David Swift, CEO of the new Serta Simmons, said in a statement: \"While the board appreciates Michael\'s many contributions, we think it\'s time for the transition,\" according to Bloomberg.
For an industry with fierce competition, discounts, expansion and contraction, leaving business is the latest development in a turbulent period.
Mattress companies are under pressure from digital competition, including surging bedsin-a-
Box sellers like Casper will open dozens of stores this year to match their strong digital sales.
Overall, both departures questioned the future of the sales deal between mattress company and Serta Simmons, which was formed after the mattress company\'s previous deal with Tempur Sealy International suddenly broke down on 2017.
Peter Keith, analyst at Piper Jaffray, said mattress companies and Sealy are more than 90% likely to get back together and both sides are \"very motivated\" to renew their contracts.
\"We believe that trust and lasting relationships are the last hurdle, but given Steve Stana\'s tenure (Tempur Sealy-Mattress Firm)
The relationship deteriorated and eventually broke.
\"This can only be described as an irrational and emotional consequence because it doesn\'t make economic sense to either side,\" Keith said in a study to clients . \".
Tempur Sealy CEO Scott Thompson told investors in February that his company, a competitor to Serta Simmons, has had \"constructive\" negotiations with mattress companies.
\"When it comes to the relationship between mattress companies, I would say the trend is good,\" Thompson said at the time . \".
Mattress companies still have about 2,600 stores and have not answered questions about the possibility of a shift in sales of Serta Simmons to Tempur Sealy.
Thompson had previously criticized mattress companies for \"unreasonable\" discounts.
His company also sued the mattress company in 2018, accusing the retailer of selling mattresses that look like Tempur.
After the contract between the two companies ended, the Pedic brand. Bed-in-a-
Box desire: Serta Simmons merge with bedin-a-
Box Company Tuft & NeedleDigital disruption: there was a fierce battle about your bed: the industry entered mattressebut Tempur Sealy said in February that it had
Shares in Tempur Sealy have risen more than 8% since the mattress CEO announced his departure on Tuesday.
Tempur Sealy declined to comment on Thursday.
The representative of Serta Simmons did not respond to the comments requested.
Traub, CEO of Serta Simmons, told USA Today in August that the company has a very close relationship with mattress companies.
He declined to comment on the retailer\'s future, but said Serta Simmons was already planning 2019 products with mattress companies.
Casper CEO Philip Klimm says traditional mattress companies are experiencing digital disruption.
\"Existing people in this area continue to feel pain,\" Krim said in an interview on Thursday . \".
\"They still don\'t understand what the prospects for consumers in this category are, and the owners of their respective businesses are clearly starting to see that.
\"Casper has opened 23 stores so far and plans to open dozens more this year,\" Krim said . \".
But he expects more traditional retailers to close their stores.
\"I think you will continue to see a massive retail reshuffle,\" Krim said . \".
For Serta Simmons, the profit from providing the mattress company was much lower than originally expected.
The 2018 bankruptcy of mattress companies has significantly reduced the retail footprint of America\'s largest mattress retailer.
S & P Global Ratings estimated in October that the impact of the bankruptcy of the mattress company would reduce the income of Serta simmons at leastto mid-single-
Digital percentage area \", while increasing the debt relative to sales.
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