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2/27/2012 4:29 PM ET

Select Comfort Corp. (SCSS: Quote) Monday announced that its chief operating officer Shelly Ibach will succeed Bill McLaughlin as president and chief executive officer, effective June 1, 2012.

Ibach has also been appointed to the board, effective immediately. As part of the succession, McLaughlin will retire as a director of the board, effective June 1, 2012.

"Select Comfort is committed to setting a new standard in sleep for the consumer. This transition in leadership underscores the board's confidence in both the magnitude of the opportunity and the strength of the operating team," explained Jean-Michel Valette, chairman, Select Comfort Board of Directors.

"I'm excited to assume leadership of the company during such an important time in our evolution," said Ibach.

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