On April 21, 2020, Casper Sleep Inc. announced that Greg Macfarlane, Chief Financial Officer and Chief Operating Officer, will depart the Company effective May 15, 2020 in order to assume a senior executive role outside of the Sleep industry. Mr. Macfarlane's departure is not related to any financial performance, policy, or control issues or any disagreements on accounting or financial reporting matters. The Company has retained an executive search firm and begun a formal search for his replacement.

While the Company searches to identify a permanent successor, Stuart Brown is joining the Company to assume the role of Interim Chief Financial Officer, effective May 15, reporting to Mr. Krim. Previously, Mr. Brown served as Executive Vice President and Chief Financial Officer of Iron Mountain Inc., a publicly-traded company, from July 2016 to February 2020. While at Iron Mountain Inc., Mr. Brown led a successful acquisition and corporate development strategy that helped transform the company into a global top-ten data center business.

Prior to that, Mr. Brown served as Executive Vice President and Chief Financial Officer of Red Robin Gourmet Burgers Inc., a publicly-traded company, from September 2011 to July 2016, where he helped lead the reacceleration of the brand's growth and was recognized nationally for his leadership in investor communications. Emilie Arel, the Company's President and Chief Commercial Officer, will oversee the Company's operations on an interim basis, effective May 15. Ms. Arel has significant operations experience from her roles at Quidsi Inc. and FULLBEAUTY Brands, where she was responsible for and oversaw all operations prior to joining the Company.

Additionally, Lisa Pillette is joining the Company as Chief Marketing Officer. Ms. Pillette is a seasoned leader with over 20 years of marketing experience. She is joining the Company following senior marketing roles at Lacoste, HSN and Ralph Lauren, and will be reporting to Ms. Arel.