Select Comfort Corp. announced Wednesday that it has appointed former Ethan Allen Interiors executive David Callen to be chief financial officer and senior vice president effective April 7.
He succeeds Wendy Schoppert, who announced in November that she would resign from the bed manufacturer to spend more time with her family.
Callen, previously Ethan Allen’s treasurer and finance vice president, will be Select Comfort’s third CFO in three years. Schoppert had been the bedmaker’s chief information officer when she was tapped to become the CFO in June 2011. At the time, Schoppert succeeded Jim Raabe, who left to become the CFO of irrigation systems firm Lindsay Corp.
Callen will take the financial wheel of the financially troubled Plymouth-based company that has missed its financial forecasts for five consecutive quarters. Previously, officials noted that bed sales were lackluster during the 2013 holiday season and that expenses for TV ads, new product development and store expansions came in higher than expected. Earnings are expected to be flat for all of 2014, CEO Shelly Ibach said last month.
In statement Thursday, Ibach said “Callen will advance the company’s financial growth plan and lead the finance team.” She added that she liked his past experience working with a branded consumer-product company that was vertically integrated. He has been with Ethan Allen since 2007.
In a statement, Callen said that he is “looking forward to ... joining Sleep Number at this exciting time in the company’s history.” He was not available for an interview Wednesday.
Ibach also announced that Patricia Dirks, a former Target Corp. human resource manager, has been named Select Comfort’s senior vice president and chief human capital officer. She starts April 7.
Ibach called Dirks”an accomplished retail and human resources leader [who] will advance our strategic direction.”
Select Comfort’s stock rose 2 cents a share to close at $17.08 Thursday. That’s down from the 52-week high of $27.54, and below its $35 trading price of two years ago.