NEW YORK--(BUSINESS WIRE)--Casper Sleep Inc. (“Casper”) (NYSE: CSPR), the award-winning sleep company, today announced that its Board of Directors has appointed Michael Monahan as Chief Financial Officer, effective August 31, 2020. Casper also announced that its Interim Chief Financial Officer Stuart Brown has resigned, effective August 31, 2020, but will continue to support the Company as a consultant during the transition period.
Michael joins Casper with more than 20 years of financial and operational leadership experience for both public and privately held companies. Most recently, Michael served as CFO of HEXO Corp., and prior to that he was CFO of Nutrisystem, Inc. During his tenure at Nutrisystem, Michael oversaw the growth of the company’s market capitalization from approximately $250 million to $1.3 billion before the company’s sale to Tivity Health, Inc., a publicly-traded provider of health improvement programs. Michael also previously served as CFO of PetroChoice Holdings, Inc. during a period of significant organic and acquisitive growth that resulted in the successful sale of the company to private equity investors.
Philip Krim, co-founder and Chief Executive Officer at Casper, commented, “Michael will be an invaluable asset to our leadership team as Casper continues to grow and advance towards profitability. His proven track record of driving financial and operational success for a number of companies gives us even more confidence in our trajectory ahead.”
“As people are investing in sleep more than ever, the opportunities for Casper are tremendous with a significant runway for growth,” said Michael Monahan. “I look forward to partnering with Philip and the leadership team to execute on the company’s strategic goals, drive profitable growth, and deliver value to shareholders.”
“I’d like to thank Stuart for his service as Interim CFO, where he played an important role in guiding Casper’s shift into the public markets. Furthermore, we appreciate that Stuart has agreed to work with Michael to ensure a seamless transition,” said Philip Krim.
Casper (NYSE: CSPR) believes everyone should sleep better. The Sleep Company has a full portfolio of obsessively engineered sleep products—including mattresses, pillows, bedding, and furniture—designed in-house by the Company’s award-winning R&D team at Casper Labs in San Francisco. In addition to its e-commerce business, Casper owns and operates Sleep Shops across North America and its products are available at a growing list of retailers.