Struggling mattress firm Eve Sleep unveils new finance chief as turnaround plan continues

Alex Daniel
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James Sturrock, CEO of Eve Sleep, welcomed Parfitt into the fold (Source: Eve Sleep)

Eve Sleep threw open the curtains this morning to reveal its new chief financial officer will be Tim Parfitt, former finance boss at furniture retailer Loaf.

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The struggling mattress seller said Parfitt would start in the role in mid-June, replacing outgoing finance chief Abid Ismail.

Eve Sleep chief executive James Sturrock said Parfitt’s 10-years’ experience as a CFO will “add further momentum and support” to the firm’s attempts to return to profitability.

“While the rebuild strategy remains in its early stages, progress continues at pace with a strengthened management team, continuing expansion of the product range and ongoing improvements to the customer experience, underpinned by the recent fundraise.”

Current finance boss Abid Ismail was forced to take the reigns as temporary chief executive last summer when co-founder Jas Bagnieowski quit the role, alongside a profit warning.

Since then the firm has struggled, with its share price still floundering at around 5.5p this afternoon, down on a 52-week high of 106p.

Ismail will step down at the end of May.

Tim Parfitt said: “I am delighted to be joining eve at this important time in the company's development and I am confident that I can support eve in its path to profitability.

Read more: Eve Sleep announces boardroom overhaul as it looks to rebuild

“Eve has great products and a strong brand, with a substantial opportunity to build a leading and highly profitable position in the sleep wellness space.”