Sleep Number Corporation (NASDAQ: SNBR) announced that Hilary A. Schneider will depart from its Board of Directors following the company's 2026 Annual Meeting of Shareholders. Schneider's departure stems from board service limitations related to her recent appointment as Chief Executive Officer of SimpliSafe, a smart home security systems company.

The company stated that Schneider's departure is due to her new CEO role and is not the result of any disagreement with Sleep Number regarding its operations, policies or practices. Sleep Number thanked Schneider for her leadership and contributions to the company.

The departure will take effect upon the conclusion of the 2026 Annual Meeting of Shareholders, scheduled for March 17, 2026.