New Bed Bath & Beyond (NASDAQ:BBBY) news about the company getting a new CEO has BBBY stock shooting higher on Thursday.
The new Bed Bath & Beyond CEO will be Mark Tritton. He will be taking on this role starting Nov. 4, 2019. This will also have him becoming the President of the company and joining its Board of Directors.
Tritton will be taking over the CEO position from Mary Winston, who has been serving in the role temporarily since May 12, 2019. Winston will be supporting the new CEO when he joins to ensure a smooth transition. She will also remain on the company’s Board of Directors.
Mark Tritton taking over as the new Bed Bath & Beyond CEO has him leaving behind his role at Target (NYSE:TGT). During his time with the retailer, he served as Executive Vice President and Chief Merchandising Officer. This had him working closely with other leaders to change the company’s retail model.
Prior to working at Target, Tritton was the EVP President of Nordstrom’s (NYSE:JWN) Product Group. This also saw him managing the company’s retail efforts, which included omni-channel distribution for more than 50 private-label brands.
Tritton had this to say in a statement.
“There is immense opportunity ahead for Bed Bath & Beyond, which remains one of the most recognizable and best loved retailers in the country today. The foundation of the Company’s transformation has been set and I’m excited at the chance to apply my industry experience and expertise to build an even better business for customers, associates, and shareholders.”
BBBY stock was up 20.80% as of Thursday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
