Ibach to Become President of Select Comfort; McLaughlin to Retire

Shelly IbachShelly Ibach

MINNEAPOLIS-Shelly Ibach, chief operating officer of Select Comfort, will succeed the retiring Bill McLaughlin as president and CEO on June 1.

In anticipation of her new roles, Ibach has been appointed to the company's board of directors. She joined Select Comfort in 2007 as executive vice president of sales and merchandising, and was promoted to chief operating officer in June of last year.

A Select Comfort statement credited her as being one of the key architects behind the company's sustained profit growth in recent quarters. For its 2011 fiscal year, the company reported net income of $60.5 million, nearly double that of 2010. "Shelly's deep experience in retail, brand and product combined with her talent for developing high-performing, customer-centric teams make her the right leader to build on the strong foundation established by Bill," said Jean-Michel Valette, Select Comfort's chairman.

McLaughlin joined the company in 2000, and played a key role in launching the Sleep Number brand the following year. From 2004 to 2008, he served as chairman, president and CEO. In the latter year, the chairman's post was assumed by Earvin Shames, who had been chairman from 1996 to 1999. Shames was succeeded by Valette in 2010.

The statement credited McLaughlin for leading Select Comfort through a successful turnaround in 2009 and 2010. "It's been Bill's belief in the company and product, commitment to the customer and focus on people and culture that ensured we are now in a position to take full advantage of our opportunity to help transform the way America sleeps," Valette said.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.

Videos

  • Adriana Hoyos Relaunches Brand at High Point Market

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN cover for September 2017

    HFN's DIGITAL EDITION

    September 2017


    COVER STORY:

    2017 State of the Industry Report
    Cautious Optimism, Mixed Results

    Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.


    ALSO IN THIS ISSUE:

    •  TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
    •   Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
    •  N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.