When Mark Triton took over the helm of Bed Bath & Beyond in 2019, he quickly embarked on a major overhaul of the home goods chain, clearing crowded aisles, reducing coupons and eliminating popular national brands in favor of new private label products.
This strategy was rejected on Wednesday, after the company reported another quarter of decline in sales, which further pushed its shares down. The board replaced Mr. Triton with Sue Gove, an independent director who enters as interim CEO while looking for his successor, the company said.
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