Signage is displayed outside of a Bed Bath & Beyond Inc. store in Los Angeles, California, U.S., on Monday, Sept. 19, 2016.
Patrick T. Fallon | Bloomberg | Getty Images
Bed Bath & Beyond on Monday announced CEO Steven Temares is stepping down, effectively immediately.
It said Mary Winston will serve as interim CEO until a replacement is found. Temares is also resigning from Bed Bath & Beyond’s board, the company said.
“The board determined that now is the right time to identify the next generation of leadership,” said Patrick Gaston, independent chairman of the retailer’s board.
Bed Bath & Beyond shares jumped 1% in premarket trading following the announcement. The stock has gained nearly 40% so far this year.
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