Bed Bath & Beyond Poaches Target's Merchandising Chief to Lead Company

Date : 10/09/2019 @ 9:16PM
Source : Dow Jones News
Stock : Bed Bath and Beyond Inc (BBBY)
Quote : 15.33  -0.495 (-3.13%) @ 5:00AM
After Hours
Last Trade
Last $ 15.40 ▲ 0.07 (0.46%)

Bed Bath & Beyond Poaches Target's Merchandising Chief to Lead Company

Bed Bath and Beyond (NASDAQ:BBBY)
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3 Months : From Sep 2019 to Dec 2019

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   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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