Bed Bath & Beyond Poaches Target's Merchandising Chief to Lead Company
October 09 2019 - 5:16PM
Dow Jones News
By Allison Prang
Bed Bath & Beyond Inc. (BBBY) named Target Corp.'s (TGT)
chief merchandising officer the company's new chief executive and
president after Bed Bath and Beyond's former CEO resigned in
May.
Bed Bath & Beyond said Mark Tritton will become CEO and
president Nov. 4. The company's interim CEO, Mary Winston, will
keep serving on the company's board, Bed Bath & Beyond
said.
Shares of Bed Bath and Beyond rose 15.8% to $11.51 in
after-hours trading.
Mr. Tritton takes over for the company's last CEO, Steven
Temares, who had been CEO since 2003. Three activist investors had
pushed for him to leave arguing that Bed Bath & Beyond didn't
change its business model to cater to the popularity of
e-commerce.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
October 09, 2019 17:01 ET (21:01 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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