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Mattress Firm CEO to depart; successor named

Steinhoff International Holdings NV-owned retail chain Mattress Firm Inc. said Jan. 26 that Ken Murphy is resigning as CEO and president, effective March 1.

Steve Stagner, executive chairman and board chairman of the U.S. mattress and bedding seller, will succeed Murphy as CEO. The duties will be added to his chairman roles.

Stagner previously was CEO of Mattress Firm from February 2010 to March 2016 and has been with the company for more than 20 years.