6 senior executives to leave Bed Bath & Beyond as new CEO kickstarts turnaround plans
- Bed Bath & Beyond announced Tuesday that six of its senior executives are leaving or have left the company.
- This includes its chief merchandising officer, chief marketing officer, chief digital officer, chief legal officer & general counsel, and its chief administrative officer. The company's chief brand officer resigned last week, it said.
- Bed Bath & Beyond's new CEO Mark Tritton said that the executive reshuffle is "the first in a number of important steps we're taking."
- Tritton is leading a turnaround effort at Bed Bath & Beyond, and his new vision for the company will be announced in early 2020.
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Bed Bath & Beyond has announced a major restructuring of its leadership team.
In a press release sent out early Tuesday morning, the company said that six of its leading executives are leaving or have left the company.
This includes Bed Bath & Beyond's chief merchandising officer, chief marketing officer, chief digital officer, chief legal officer & general counsel, and its chief administrative officer. The company's chief brand officer, resigned last week, it said. It is now actively looking for replacements for these positions.
Bed Bath & Beyond's new CEO, Mark Tritton, who previously worked as chief merchant officer at Target, took the helm of Bed Bath & Beyond in October, and is now tasked with turning the company around after sales have slipped in recent years.
"We've helped millions of people make it easy to feel at home for almost half a century and our business remains uniquely placed to play an essential role in our customers' lives. To do so, we need to make the business we call home, as special as our customers make theirs," Tritton said in a statement on Tuesday.
He continued: "This is the first in a number of important steps we're taking. Balancing our existing expertise with fresh perspectives from new, innovative leaders of change, will help us to better anticipate and support our customers in their life journeys and shopping needs."
Bed Bath & Beyond has come under intense pressure from a group of activist investors in recent months to take action and address its issues. These investors called for the resignation of its previous CEO and a shake-up of its leadership team.
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