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Select Comfort appoints Jean-Michel Chairman of Board

20
May '10
Select Comfort Corporation announced that Jean-Michel Valette has been appointed chairman of the board of directors.

Valette, who has been a member of Select Comfort's board of directors for more than 15 years, has served in executive and director roles for several companies across different industries. Currently, Valette is the chairman of Peet's Coffee and Tea, Inc., and a director on the board of The Boston Beer Company. Previously, Valette was the non-executive chairman of the Robert Mondavi Winery as well as the company's president and managing director. Valette also has been an independent adviser for branded consumer companies for more than 10 years.

Valette will continue to serve as a member of the board's audit committee. He succeeds Ervin R. Shames, who will continue as a member of Select Comfort's board.

"We are pleased that Jean-Michel has accepted the position as chairman at such an exciting time in the company's history," said William R. McLaughlin, president and CEO, Select Comfort. "His extensive experience as a senior executive and director for multiple national branded consumer companies will bring strong benefits to Select Comfort as we continue to capitalize on our unique brand and competitive advantages to achieve long-term growth and value creation for shareholders. I also want to personally thank Erv for his invaluable insight, leadership and counsel during his combined five years as board chair."

In other business, shareholders approved the election of David T. Kollat and William R. McLaughlin to three-year terms as directors during the company's annual meeting of shareholders, held at the Radisson Plaza Hotel in Minneapolis earlier. In addition, shareholders approved the company's 2010 omnibus incentive plan, adopted plurality voting in the event of a contested election of directors, and ratified the appointment of Deloitte & Touche, L.L.P., as the company's independent accounting firm for the fiscal year ending January 1, 2011.

Founded more than 20 years ago and based in Minneapolis, Select Comfort Corporation designs, manufactures, markets and supports a line of adjustable-firmness mattresses featuring air-chamber technology, branded the Sleep Number bed, as well as foundations and bedding accessories. SELECT COMFORT products are sold through its approximately 400 company-owned stores located across the United States; select bedding retailers; direct marketing operations; and online.

Select Comfort Corporation


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