Bed Bath & Beyond Chief Executive Steven Temares Steps Down
13 May 2019 - 10:55PM
Dow Jones News
By Colin Kellaher
Bed Bath & Beyond Inc. (BBBY) on Monday said Steven Temares
has stepped down as chief executive and a member of the board as a
group of activist shareholders continues to press for changes at
the retailer.
The Union, N.J., company said Mary Winston, who recently joined
the board in an April overhaul, will serve as interim CEO.
Bed Bath & Beyond said its board has formed a committee to
identify a permanent CEO, adding that it will hire an executive
search firm to assist with the process. The company said it will
seek a new chief with "transformation and innovation experience in
the retail sector."
Bed Bath & Beyond, which has faced criticism from activist
investors Legion Partners Asset Management LLC, Macellum Advisors
GP LLC and Ancora Advisors LLC, in April named five new independent
directors, including Ms. Winston, and pledged to review its
operations.
The retailer said Andrea Weiss, also one of the new directors,
will chair the board's business transformation and strategy review
committee.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
May 13, 2019 08:40 ET (12:40 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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