Mattress seller Eve Sleep hires new boss to wake up from nightmare

Struggling online mattress retailer Eve Sleep on Monday named a replacement chief executive for Jas Bagniewski who left amid a nightmare bungled expansion.

AIM-listed Eve has appointed James Sturrock, greeting cards company Moonpig’s former managing director, as boss with effect from next week. Interim boss Abid Ismail will continue his role as finance chief.

The update comes two months after co-founder Bagniewski abruptly left Eve, triggering a near 60% drop in the share price.

At the time the firm warned sales in the half year to June had “fallen short of expectations” and said management had underestimated what was needed for European expansion.

Paul Pindar, chairman of Eve Sleep, today said of Sturrock: “His proven experience in leading and developing online companies will be essential in driving eve forward to seize the substantial market opportunity ahead.”

The firm also appointed communications expert Nikki Crumpton as a non-executive director.

The City appeared cautious and shares fell 0.99p to 15.01p. The company floated at 101p per share in May last year.