Bed Bath & Beyond Executive Shake Up: Will Leadership Changes Make A Difference?

Bed Bath & Beyond (BBBY) has undergone a significant restructuring of its leadership team. A total of six senior members have departed the struggling retailer under the direction of Mark Tritton, the company’s new president and CEO.

Tritton, a former Targe executive, will launch a new vision for Bed Bath & Beyond that will begin in early 2020, putting into effect the leadership changes now as he looks to transform the home goods retailer.

According to the company, the new leadership changes are part of an effort to streamline decision making while helping to re-establish Bed Bath & Beyond as an authority in the home products space. The company is also aiming to be more customer-focused and improve its omnichannel operations, it said..

Bed Bath & Beyond also said it is looking to redefine its products while offering “a more convenient and inspirational shopping experience.”

The five senior executives that are leaving the team include members that held the positions of chief merchandising officer, chief marketing officer, chief digital officer, chief legal officer & general counsel, and chief administrative officer. The company’s chief brand officer resigned last week.

Bed Bath & Beyond said interim leads have been appointed to fill the roles while the positions of chief merchandising officer, chief digital officer, general counsel will be filled as well as the newly combined position of chief marketing and brand officer.

"We've helped millions of people make it easy to feel at home for almost half a century and our business remains uniquely placed to play an essential role in our customers' lives,” Tritton said in a statement. “To do so, we need to make the business we call home, as special as our customers make theirs.

“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.”

Bed Bath & Beyond has been plagued with sluggish sales and store closures. In October, the retailer announced that it would be closing 60 stores after the holidays, up from its previous forecast of 40 locations.

Shares of Bed Bath & Beyond stock were up 6.59% as of 11:19 a.m. EST on Tuesday.