UNION, N.J., March 4, 2020 /PRNewswire/ -- Bed Bath &
Beyond Inc. (Nasdaq: BBBY) has named Joe
Hartsig as Executive Vice President, Chief Merchandising
Officer of Bed Bath & Beyond and President of Harmon Stores
Inc. ("Harmon"), effective immediately.
Reporting directly to Bed Bath & Beyond's President &
CEO, Mark Tritton, Mr. Hartsig will
be a key member of the senior leadership team and responsible for
developing and implementing its Product strategy, one of the five
pillars of the Company's preliminary strategic plan. His
responsibilities will include oversight of the Company's
omni-channel merchandising, planning, and owned brand
strategies. As President of Harmon, Joe will also be
responsible for developing the growth strategy for the cosmetics,
health and beauty retailer, operating under the names Harmon,
Harmon Face Values or Face Values.
Mark Tritton, President &
CEO, said, "To rebuild our
business, we need leaders of change. Joe's experience as one
of the leading innovators in retail makes him perfectly suited to
help re-establish our authority in the Home, Baby and Beauty
markets and we're excited to welcome him to this critically
important role. Improving the curation and differentiation of
our assortment is our number one strategic priority, and Joe will
be the driving force behind our ambition to make it easy to feel at
home with Bed Bath & Beyond, while also providing the
leadership and vision needed to grow our Harmon business."
Joe Hartsig has more than 30
years of experience in consumer brand development and retail
merchandising, as a senior leader at some of the world's largest
and best-known consumer brands, including Walmart, Motorola and SC
Johnson. Most recently, he served as Senior Vice President &
Chief Merchandising Officer at Walgreens, where he managed the
front of store Retail Products division and drove transformational
change. He was responsible for a team of over 500
merchandising, planning and field team employees across a variety
of categories, in addition to leading the owned brand organization
and e-commerce and digital merchandising strategies to advance the
company's omni-channel capabilities.
"The opportunity to help rebuild an iconic brand like Bed Bath
& Beyond was too good to miss," said Mr. Hartsig. "Mark has a
clear vision to reconstruct a modern, durable business model with a
differentiated merchandising strategy at its heart. It is an
exciting time to be joining Bed Bath & Beyond and I look
forward to working closely with Mark and the organization."
The Company is on track in its search to fill a number of other
strategic leadership roles. "I am very grateful for our
associates who have stepped up to provide key interim leadership
and partner closely with me to build our plan. We look forward to
providing an update on additional hires soon," said Mr.
Tritton.
About Bed Bath & Beyond Inc.
Bed Bath & Beyond Inc. and subsidiaries (the "Company")
is an omnichannel retailer that makes it easy for our customers to
feel at home. The Company sells a wide assortment of domestic
merchandise and home furnishings. The Company also provides a
variety of textile products, amenities and other goods to
institutional customers in the hospitality, cruise line, healthcare
and other industries. Additionally, the Company is a partner in a
joint venture which operates retail stores
in Mexico under the name Bed Bath & Beyond.
Forward Looking Statements
This press release contains forward-looking statements,
including, but not limited to, the Company's progress and
anticipated progress towards its long-term objectives and its
search to fill strategic leadership roles. Many of these
forward-looking statements can be identified by use of words such
as may, will, expect, anticipate, approximate, estimate, assume,
continue, model, project, plan, goal, and similar words and
phrases, although the absence of those words does not necessarily
mean that statements are not forward-looking. The Company's actual
results and future financial condition may differ materially from
those expressed in any such forward-looking statements as a result
of many factors. Such factors include, without limitation: general
economic conditions including the housing market, a challenging
overall macroeconomic environment and related changes in the
retailing environment; consumer preferences, spending habits and
adoption of new technologies; demographics and other macroeconomic
factors that may impact the level of spending for the types of
merchandise sold by the Company; civil disturbances and terrorist
acts; unusual weather patterns and natural disasters; competition
from existing and potential competitors across all channels;
pricing pressures; liquidity; the ability to achieve anticipated
cost savings, and to not exceed anticipated costs, associated with
organizational changes and investments; the ability to attract and
retain qualified employees in all areas of the organization; the
cost of labor, merchandise and other costs and expenses; potential
supply chain disruption due to trade restrictions, political
instability, labor disturbances, product recalls, financial or
operational instability of suppliers or carriers, and other items;
the ability to find suitable locations at acceptable occupancy
costs and other terms to support the Company's plans for new
stores; the ability to establish and profitably maintain the
appropriate mix of digital and physical presence in the markets it
serves; the ability to assess and implement technologies in support
of the Company's development of its omnichannel capabilities;
uncertainty in financial markets; volatility in the price of the
Company's common stock and its effect, and the effect of other
factors, on the Company's capital allocation strategy; risks
associated with the ability to achieve a successful outcome for its
business concepts and to otherwise achieve its business strategies;
the impact of intangible asset and other impairments; disruptions
to the Company's information technology systems including but not
limited to security breaches of systems protecting consumer and
employee information or other types of cybercrimes or cybersecurity
attacks; reputational risk arising from challenges to the Company's
or a third party product or service supplier's compliance with
various laws, regulations or standards, including those related to
labor, health, safety, privacy or the environment; reputational
risk arising from third-party merchandise or service vendor
performance in direct home delivery or assembly of product for
customers; changes to statutory, regulatory and legal requirements,
including without limitation proposed changes affecting
international trade; changes to, or new, tax laws or interpretation
of existing tax laws; new, or developments in existing, litigation,
claims or assessments; changes to, or new, accounting standards;
and foreign currency exchange rate fluctuations. The Company does
not undertake any obligation to update its forward-looking
statements.
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SOURCE Bed Bath & Beyond Inc.