Bed Bath & Beyond Names Four Independent Directors
May 29 2019 - 7:19AM
Dow Jones News
By Allison Prang
Bed Bath & Beyond Inc. named four new independent directors
to its board as it aims to make leadership changes amid pressure
from three activist investors.
The company, which not long ago reported its first loss and
decrease in sales for a fiscal year as a publicly-traded company,
has been pressured by a group of activist investors who think the
company hasn't adapted to new consumer behavior. The group of
investors has aimed to revamp the company's board.
Bed Bath & Beyond on Wednesday said it appointed the
following new directors: John Fleming, previously global e-commerce
chief executive of Uniqlo Co. Ltd.; Sue Gove, president of retail
consulting firm Excelsior Advisors LLC; Jeffrey Kirwan, previously
global president and CEO of The Gap Inc.'s Gap division; and Joshua
Schechter, who has chaired various public boards and is a private
investor.
A dozen of the company's 13 board directors now have joined the
board over the past couple of years, Bed Bath and Beyond said.
Bed Bath & Beyond is also still looking for a permanent CEO
after its former CEO resigned earlier this month. Its interim CEO
is Mary Winston, previously an executive at Family Dollar and Giant
Eagle Inc.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
May 29, 2019 07:04 ET (11:04 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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