Bed Bath & Beyond announced the departure of six senior executives from the company on Tuesday, reports CNBC. The extensive change in leadership is the first major move by the retailer's new CEO, Mark Tritton, who is known for his successful run leading merchandising at Target. Tritton joined Bed Bath & Beyond in early November. The executives leaving Bed Bath & Beyond include the company’s chief merchandising officer, chief marketing officer, chief digital officer, chief legal officer and general counsel, and chief administrative officer. The sixth executive, the company’s chief brand officer, resigned last week. Bed Bath & Beyond has appointed interim leads to fill the positions, and the company said in a press release that it has commenced a search to fill the positions of chief merchandising officer, chief digital officer, general counsel, as well as a newly combined chief marketing and brand officer.
Total Retail's Take: This executive house cleaning makes it clear that new CEO Mark Tritton has serious plans to reinvent Bed Bath & Beyond, and isn't wasting any time in executing his vision. Clearing out his C-suite after less than two months with the company, Tritton is looking to "[balance] our existing expertise with fresh perspectives from new, innovative leaders of change, [which] will help us to better anticipate and support our customers in their life journeys and shopping needs," he said in a company press release. Tritton is well aware that Bed Bath & Beyond faces steep challenges on its turnaround journey, noting that "this is the first in a number of important steps we're taking" to execute his vision for the home goods retailer in 2020. However, the timing of this executive sweep raises eyebrows, as the company will now have to push through the busy holiday season with a fragmented leadership team amidst other internal changes. Time will tell if Tritton has made the right decision, as he looks to take Bed Bath & Beyond from lackluster to profitable in 2020.
Kristina Stidham is the digital content manager at Total Retail and sister brand Women in Retail Leadership Circle. She is passionate about digital media and handles social media, video, and podcast production for both brands, as well as contributing articles and attending events. Kristina holds a B.A. in Media Studies and Production from the Temple University Klein College of Media and Communication in Philadelphia.