Bed Bath & Beyond Replaces CEO as Sales Plummet
Jun 29, 2022 By MarketDepth
Bed Bath & Beyond (NASDAQ:BBBY) is replacing CEO Mark Tritton as sales continue to decline quarter after quarter. Mark joined Bed Bath & Beyond in 2019 after being a Target veteran.
Shares are down 20% on the day with the news of CEO being replaced and sharp losses.
The announcement came as a new interim CEO has been named Sue Gove, an independent director of the Board. With years of effort to get Bed Bath & Beyond into the black but continuously falling short of their efforts.
“I step into this role keenly aware of the macro-economic environment.”Sue Gove, Interim CEO