With its latest appointment, Sleep Number has become one of a handful of public companies in the United States where women make up the majority of corporate board members.
The Minneapolis-based company this week named Deborah Kilpatrick to its board, increasing the size to 11, six of whom are women.
Kilpatrick is the CEO of Evidation Health in San Mateo, Calif., a technology company that aims to harness data about everyday behavior to improve health outcomes.
Sleep Number said Kilpatrick's expertise is a good fit for the company, which uses data and technology to separate itself from competitors. Its SleepIQ technology feeds a comprehensive database of biometric data on consumer sleep habits from sensors embedded in Sleep Number mattresses.
Shelly Ibach, Sleep Number's president and CEO, said the board has been diligent about gaining diversity in experience, gender, ethnicity, age and tenure as well as expertise in different business areas.
"Deborah has considerable experience in the development and commercialization of digital health products," Ibach said. "In the end, it's still about finding the best candidate who can contribute to the ongoing shareholder value."
Research shows that companies with diverse boards also tend to perform better financially, said Joann Bangs, dean of the school of business and professional studies at St. Catherine University in St. Paul.
"Women directors are more likely to include a wider array of stakeholders in discussions, be more persistent in pursuing answers to difficult questions and work collaboratively, which leads to better communication," Bangs said. "But it takes multiple women on a board to achieve these results."
