Somnigroup International Inc. has announced that, upon the recommendation of the Human Resources/Capital and Talent Committee, the independent members of the Board of Directors have extended the term of Scott Thompson’s employment contract as Chairman, Chief Executive Officer and President of the Company to 31 December 2029.

Mr. Thompson has led the Company since September 2015. During his tenure, the Company’s share price increased by over 250%, exceeding both the S&P 500 and the Russell 2000 Indexes.

Richard W. Neu, Lead Director of the Somnigroup Board of Directors, commented: “We are pleased to reaffirm our confidence in Mr. Thompson’s leadership as he guides Somnigroup into an exciting new era of opportunity and growth. Under his direction, the Company has strengthened its global competitive position, closed significant domestic and international acquisitions, and returned approximately $3 billion to shareholders through a combination of dividends and share repurchases.”

Mr. Thompson added: “It is a privilege to continue leading Somnigroup and to work alongside such a dedicated and talented management team. I am sincerely grateful to our employees, customers, suppliers, Board of Directors, and shareholders for their ongoing support. We are all looking forward to building upon the progress and momentum we have achieved to date as we continue to execute on our long-term growth plan.”