Bed Bath & Beyond has finally ended its search for a new chief executive officer, appointing former Target excutive Mark J. Tritton the position.
Tritton will become president and CEO and a member of the retailer's board, effective November 4, 2019. He succeeds interim CEO Mary A. Winston.
Tritton has over 30 years of experience in the retail industry, including most recently as EVP and CMO at Target Corporation, where he was instrumental in transforming the omnichannel shopping experience. He has end-to-end retail industry experience in merchandising, design, manufacturing, marketing and distribution at some of the world’s leading iconic retailers and brands. In addition to Target, this includes Nordstrom, Inc., Timberland LLC and Nike, Inc. A native of Australia, he holds a Bachelor of Education in English and History from the University of Sydney.
“We are thrilled to announce a President and CEO with one of the most impressive resumes in the business,” said Patrick R. Gaston, Bed Bath & Beyond’s Chairman of the Board. “Mark’s ability to re-define the retail experience and drive growth at some of the world’s most successful retailers and brands makes him uniquely equipped to lead Bed Bath & Beyond during this critical time in our evolution. As an integral contributor to Target’s impressive transformation, we will benefit from his vision, leadership, and creativity to successfully transform our business.”
Gaston continued, “The Board and I would also like to thank Mary Winston for her dedication to the company as interim CEO. In just a few months, she has put in place a strong foundation for Mark and the wider company to build upon in the years to come.”
Winston has served as interim CEO since May 12, 2019, during the search for a permanent successor. She will continue to serve on the Board of Directors and will work closely with Tritton and Gaston to facilitate an orderly and efficient transition.
When Tritton joins Bed Bath & Beyond, his immediate focus will be on accelerating the company’s ongoing business transformation. This includes improving the omnichannel experience for consumers, enhancing the merchandise assortment and reviewing the Company’s cost structure and asset base.
“There is immense opportunity ahead for Bed Bath & Beyond, which remains one of the most recognizable and best loved retailers in the country today," said Tritton. "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. I look forward to working together with all associates and the Board of Directors to achieve our ambitious vision for the future of Bed Bath & Beyond.”