UNION, N.J., Sept. 28, 2020 /PRNewswire/ -- Bed Bath
& Beyond Inc. (Nasdaq: BBBY) has named Anu
Gupta as Chief Strategy and Transformation
Officer, effective October 5,
2020. Ms. Gupta will be responsible for the Company's
comprehensive strategy and transformation program, including
continuing to develop and implement strategic growth initiatives
across the Company.
Ms. Gupta will help to modernize the Company's operating model,
enhance the digital-first, omni-always shopping experience for
customers, and increase profitability across the business.
Ms. Gupta will also leverage and expand the use of data and
analytics to deliver a customer-inspired approach to drive growth
and performance. She will report to John
Hartmann, Chief Operating Officer (COO) and President,
buybuy BABY.
COO John Hartmann said, "As
we continue to transform our Company into a truly omnichannel
retailer, we need dynamic, unconventional, and expert leaders like
Anu to lead change across the organization. Anu's industry
experience, strategic leadership and operational expertise will
help us execute our vision while we create a strong, durable
business model for the future."
Ms. Gupta joins Bed Bath & Beyond from JYVE Corporation, a
leading retail technology platform and talent marketplace, where
she was Chief Operating Officer and led the implementation of its
Future of Work platform. Previously, Ms. Gupta was Senior Vice
President, Strategy Execution and Operational Excellence at Target
Corporation, where she was responsible for a multi-year initiative
to restructure Target's product portfolio, digital and operational
capabilities, and go-to-market processes. Before this she held
leadership positions at private equity firm Hellman & Friedman,
The Michaels Companies, Inc. and Safeway Inc. Ms. Gupta also serves
as a member of the Board of Directors of H&R Block, Inc.
"Bed Bath & Beyond is an iconic retailer and taking
purposeful steps to transform into an omni-always organization,"
said Ms. Gupta. "At a time when home has become everything, I look
forward to accelerating change across the Company, deepening
customer engagement, and driving growth and profitability for the
business."
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. 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; risks associated with the novel
coronavirus (COVID-19) and the governmental responses to it,
including its impacts across the Company's businesses on demand and
operations, as well as on the operations of the Company's suppliers
and other business partners, and the effectiveness of the Company's
actions taken in response to these risks; 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, including the Company's strategic restructuring
program; 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, and other factors such as natural disasters,
such as pandemics, including the COVID-19 pandemic, 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; the
ability to effectively and timely adjust the Company's plans in the
face of the rapidly changing retail and economic environment,
including in response to the COVID-19 pandemic; uncertainty in
financial markets; volatility in the price of the Company's common
stock and its effect, and the effect of other factors, including
the COVID-19 pandemic, 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. Except as required by law, the
Company does not undertake any obligation to update its
forward-looking statements.
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SOURCE Bed Bath & Beyond Inc.