Under Pressure, Bed Bath & Beyond CEO Temares Resigns; Shares Remain Rich
The investor group comprising Legion Partners, Ancora Advisors, and Macellum Advisors continues to pressure the executives and board of directors at no-moat Bed Bath & Beyond for the company's lengthy underperformance. In response, longtime CEO Steven Temares has tendered his resignation, replaced by board member Mary Winston on an interim basis while the search for a replacement gets underway. We expect the firm will opt for a leader with turnaround and innovation skills. With significant c...Bed, Bath & Beyond is an omnichannel retailer providing products, services and solutions for the home and life events. The company operates an ecommerce platform consisting of various websites and applications, including bedbathandbeyond.com, bedbathandbeyond.ca, harmondiscount.com, and facevalues.com. The company sells an assortment of domestics merchandise and home furnishings. Domestics merchandise includes categories such as bed linens and related items, bath items and kitchen textiles. Home furnishings include categories such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings (including furniture and wall decor), consumables and certain juvenile products.
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