Casper Sleep Inc. Appoints Joe Megibow as CEO

Rhea-AI Summary

Casper Sleep Inc. appoints Joe Megibow as CEO to lead the company into its next phase of growth, succeeding outgoing CEO Emilie Arel. Megibow brings extensive industry experience and a vision for significant growth. The company is well-capitalized and poised for expansion with recent strategic partnerships. Casper is gearing up for a new and innovative mattress rollout next month, reflecting the most up-to-date needs of customers.

Megibow’s Business Leadership and Extensive Industry Experience Will Propel Casper To Next Growth Phase

NEW YORK--(BUSINESS WIRE)-- Casper Sleep Inc., the award-winning sleep company, appoints Joe Megibow as CEO to lead the company into its next chapter of growth. Effective immediately, Megibow will succeed outgoing CEO Emilie Arel, who will be integral in the transition until March 1, 2024.

“No other mattress brand has cultivated the level of customer trust and love that Casper has, and it’s our time to leverage this unique position,” said Joe Megibow, CEO of Casper. “This is the sleep brand pioneer that disrupted the industry, creating unmatched brand awareness in a sleepy category with a strong focus on innovative products that support our passion for sleep health. With recent investment from strategic partnerships, Casper is well capitalized and poised for significant growth.”

Megibow, a retail and technology trailblazer for over three decades, propelled Purple (NASDAQ: PRPL), as CEO and board member into sustained profitability and led significant market share growth through major wholesale expansion, the launch of retail stores, and e-commerce advancements. Most recently he was CEO of Bright Cellars, the innovative data-driven wine discovery and production platform. His experience includes advising portfolio companies at Advent International, leading American Eagle's $550+ million direct-to-consumer business, as well as overseeing Expedia.com’s $11 billion US business.

"I want to thank Emilie for her vital leadership and valuable contributions over the past four years at Casper,” said Eric Sobotka, Managing Partner and Founder of Durational Capital Management. “We are excited to welcome Joe, who brings tremendous industry experience and an exciting vision for Casper’s next phase of growth.”

Megibow’s appointment comes at an inflection point for Casper, as the company gears up for a new and innovative mattress rollout, set to launch next month. The new line of mattresses will reflect the most up-to-date needs of customers. Designed around three core principles: cooling, support, and comfort, the new product suite brings an exciting and fresh product offering for our dedicated wholesale partners and loyal retail customers.

ABOUT CASPER

Casper believes everyone should sleep better. The company has a full portfolio of obsessively engineered sleep products—including mattresses, pillows, bedding, and furniture—designed in-house by the Company's award-winning R&D team at Casper Labs. In addition to its ecommerce business, Casper owns and operates Sleep Shops across North America and its products are available at a growing list of retailers. To learn more about Casper, visit Casper.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240119062069/en/

Courtney Thomas

Moxie Communications Group

casper@moxiegrouppr.com

Source: Casper Sleep Inc.

FAQ

Who is the new CEO of Casper Sleep Inc.?

Joe Megibow is the new CEO of Casper Sleep Inc.

When will Joe Megibow take over as CEO?

Joe Megibow will take over as CEO immediately, succeeding outgoing CEO Emilie Arel.

What is the ticker symbol for Casper Sleep Inc.?

The ticker symbol for Casper Sleep Inc. is CSPR.

What is the new product suite designed around?

The new product suite is designed around three core principles: cooling, support, and comfort.

What is the recent investment from strategic partnerships aimed at?

The recent investment from strategic partnerships aims to capitalize Casper for significant growth.