Attached files
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8-K - 8-K - MATTRESS FIRM HOLDING CORP. | a15-25204_18k.htm |
Exhibit 17.1
December 17, 2015
R. Stephen Stagner |
via email: steve.stagner@mattressfirm.com |
Chief Executive Officer |
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Mattress Firm Inc. |
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5815 Gulf Freeway |
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Houston, Texas 77023 |
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Dear Steve,
I have made the difficult decision to resign from the Mattress Firm Board of Directors, effective immediately.
As previously discussed, I do not believe the current Board governance structure of having a minority shareholder, J.W. Childs Associates, maintain a Board representation disproportionate to its ownership serves the interests of the public shareholders. I was very concerned about this issue when I joined the Board but was told there was an understanding that J.W. Childs would sell down its ownership in 2014 and 2015 and then reduce its Board representation. While a small stock sale by J.W. Childs did occur, a larger additional secondary was scrapped. Now, with the reduction in the stock price, I do not see a path to J.W. Childs reducing its ownership and exiting anytime soon. I also remain highly concerned about the true independence of the independent Directors who are affiliated with J.W. Childs. As such, this Board is not something I wish to continue to be a part of.
I have appreciated the brief opportunity to serve on the Companys Board of Directors and wish the company much success in the future.
Sincerely, |
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/s/ Ron J. Mittelstaedt |
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Ron J. Mittelstaedt |
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cc: William Watts, Chairman of the Board
Kindel Elam, Executive Vice President & General Counsel
3 Waterway Square Place, Suite 110, The Woodlands, TX 77380
Tel (832) 442-2200 · Fax (832) 442-2200 · www.wasteconnections.com