Forty Winks appoints new CEO

Forty Winks appoints CEO
Chairman Guyan Stroud, left, and new CEO Daniel Gutstein. (Source: Supplied)

Bedding retailer Forty Winks has appointed Daniel “Pancho” Gutstein as its new CEO, starting January 2024. The announcement comes ahead of Forty Winks’ 40th anniversary.

Gutstein comes to the role with 15 years in leadership roles in Australia and the US at sportswear giant Puma. He has held senior roles in strategy and merchandising. Most recently he was general manager at Puma Oceania; during his tenure the team tripled the market’s turnover since 2017.

Before moving to Australia, Gutstein was the senior vice president of merchandising reporting into the president of Puma North America. 

Gutstein has worked in consumer products across strategy, brand, digital, product and commercial  leadership for more than 20 years.

Chairman Guyan Stroud said “Pancho’s global business and strategic leadership expertise, combined with his enduring passion for retail, will amplify our future growth ambitions. We are excited by, and confident in, his ability to lead our heritage brand into its fourth decade, building brand momentum and sales for our franchisees, and continuing to deliver exceptional products and services  for new and existing customers.”

Gutstein said he values “Forty Winks’ candour, commitment to family, and the intent to create a legacy for the next generation”.

“The company has a great sense of  determination, confirmed by its long-standing history as one of the nation’s most trusted bedding experts. I look forward to helping shape the next chapter in the Forty Winks story and continuing to  deliver on the brand’s commitment to help more Australians ‘Go to better sleep’,” he said. 

Forty Winks was founded in Melbourne in 1984 and now has a network of more than100 family owned and operated stores, servicing all major cities, territories and regional centres.

The retailer recently underwent a brand refresh, and launched its ‘The Unslept’ campaign.