Business
Purple Innovation, Inc. Appoints Robert DeMartini, former President & Chief Executive Officer of New Balance, as Acting Chief Executive Officer
Company Updates 2021 Outlook LEHI, Utah, Dec. 13, 2021 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple" or the "Company"), a comfort
About this update from Purple Innovation, Inc.
[{"type":"text","content":"Company Updates 2021 Outlook\n\n\nLEHI, Utah, Dec. 13, 2021 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL) (\"Purple\" or the \"Company\"), a comfort innovation company known for creating the \"World's First No Pressure® Mattress\", today announced that Robert T. DeMartini has been appointed as Acting Chief Executive Officer and a member of the Board of Directors, effective immediately. Mr. DeMartini succeeds Joseph B. Megibow, who is stepping down as Chief Executive Officer and a member of the Board. Mr. Megibow will serve as an advisor to the new CEO to ensure a smooth transition.\n\n \n \n \n \n \n \n\n \n\"Purple's strategic direction and multi-year growth prospects have the Company well positioned for 2022 and beyond. The Board is confident this leadership transition will help sharpen our execution and advance the business toward the long-term financial targets we established earlier this year,\" said Paul Zepf, Non-Executive Chairman of the Board. \"Purple has successfully leveraged its comfort technologies and focus on health & wellness to generate strong affinity for our brand and products and disrupt the mattress industry. With his track record leading New Balance's high-performance growth and rise to a top global athletic brand, Rob is a great addition to the organization and the ideal person to lead Purple. On behalf of the Board and all of our employees, we would like to thank Joe for his leadership and contributions during his tenure and we wish him all the best with his future endeavors.\"\nRob DeMartini, Acting CEO, said, \"I am honored to take the helm at Purple, a company that has quickly established itself as a leader in the premium mattress category through its proprietary comfort solutions. With a powerful portfolio of innovative products that help people feel and live better, vertically integrated manufacturing capabilities, and omni-channel distribution strategy, I believe Purple is well positioned to further expand its market share in the years ahead. I look forward to working collaboratively with both the Board and the talented and passionate team of employees to strengthen the Company's operations and best prepare Purple for its next phase of growth.\"\nRob DeMartini is an experienced leader with a long history of strong growth and execution during his 37-year career. Mr. DeMartini served as Pres...