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Bed Bath & Beyond CEO Mark Tritton is leaving his role at the retailer and its board of directors.
Tritton will be replaced by Sue Gove on an interim basis, while search firm Russell Reynolds has been tapped to lead the search for a permanent chief executive.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BBBY | BED BATH & BEYOND INC. | 6.53 | -0.22 | -3.26% |
The decision comes as the company’s quarterly results on Wednesday came in worse than expected.
“We are committed to addressing the urgent issues that have been impacting sales, profitability, and cash flow generation,” Bed Bath & Beyond independent board chair Harriet Edelman said in a statement. “We are confident Sue brings the right combination of industry experience and knowledge of Bed Bath & Beyond’s operations to lead the Company, focus our resources, and revise strategy, as appropriate.”
As of the time of publication, shares of Bed Bath & Beyond have fallen more than 56% year to date.
This is a developing story. Please check back for updates.
