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Bed Bath & Beyond News: BBBY Stock Gets 5% Bump From CEO’s Shakeup

Bed Bath & Beyond (NASDAQ:BBBY) is seeing BBBY stock rise on Wednesday after announcing changes to its management.

Bed Bath & Beyond News: BBBY Stock Gets 5% Bump From CEO's Shakeup
Source: Shutterstock

Mark Tritton, the new President and CEO of the company, is behind this Bed Bath & Beyond news. It has six senior members leaving BBBY as Tritton looks to reorganize the company to better suit his plans.

This change has the following members of the company leaving their positions.

  • Chief Merchandising Officer
  • Chief Marketing Officer
  • Chief Digital Officer
  • Chief Legal Officer & General Counsel
  • Chief Administrative Officer

On top of this, the Chief Brand Officer of Bed Bath & Beyond resigned last week. The goal is to fill these roles temporarily as the company searches for permanent replacements. However, it’s only looking to replace the Chief Merchandising Officer, Chief Digital Officer, General Counsel, and a newly-created Chief Marketing and Brand Officer position.

Here’s what Tritton has to say about the Bed Bath & Beyond news.

“This is the first in a number of important steps we’re taking. Balancing our existing expertise with fresh perspectives from new, innovative leaders of change, will help us to better anticipate and support our customers in their life journeys and shopping needs.

As we look to the future, I would like to thank all those leaving today for their work and commitment to our business over many years.”

BBBY stock was up 4.86% as of Wednesday afternoon. The stock is also up 40.90% since the start of the year.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2019/12/bed-bath-beyond-news-boosts-bbby-stock-on-ceo-plan/.

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