Bed Bath & Beyond Appoints Interim CEO, Seeks Permanent Successor

Bed Bath & Beyond (BBBY) on Monday said 27-year company veteran Steven Tamares has stepped down from his chief executive position and left the company’s board, and that Mary Winston, a public-company executive who recently joined the board, has been appointed interim CEO.

The retailer, with 1,500 locations in North America, said it has formed a CEO search committee and will look for individuals who have “transformation and innovation experience in the retail sector.”

Bed, Bath & Beyond said on May 1 five new independent directors joined its board, following the appointment of two new independent directors in 2018 and one new independent director in 2017. The company now has eight independent directors on a nine-member board.

In March, a group of activist investors including Legion Partners, Macellum Advisors and Ancora Advisors called for changes in Bed, Bath & Beyond management and board membership due to declining share price.

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