Bed Bath & Beyond Hires Former Target Executive As Its New CEO

As Bed Bath & Beyond (BBBY) looks for ways to turnaround its retail operations, the company has appointed former Target executive, Mark J. Tritton, to the role of president and CEO effective Nov. 4. Tritton will also sit on the Board of Directors for the company as he succeeds interim CEO, Mary A. Winston.

Tritton comes to Bed Bath & Beyond with 30 years of experience in the retail industry, most recently serving as executive vice president and chief merchandising officer at Target. At Target, Tritton was instrumental in launching more than 30 brands with the retailer over a two-and-a-half-year period while helping it to achieve a comparable sales increase for eight straight quarters.

Tritton also worked as executive vice president of Nordstrom's Product Group, as well as in leadership positions at Timberland and Nike. Here, he was responsible for the merchandising, design, manufacturing, marketing, and distribution of more than 50 brands.

"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."

As president and CEO of Bed Bath & Beyond, Tritton will focus on accelerating the transformation of the company that is currently ongoing. He will work to improve its omni-channel experience for customers while enhancing the assortment of merchandise in stores and accessing the company’s cost structure and assets.

“There is immense opportunity ahead for Bed Bath & Beyond, which remains one of the most recognizable and best loved retailers in the country today,” Tritton said. “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."

Tritton will replace Winston, who has been in the interim CEO role since May. She will continue to sit on the Board of Directors and work with him on the transition into the new role.

Tritton is a native of Australia and graduated from the University of Sydney with a Bachelor of Education in English and history.

Shares of Bed Bath & Beyond were up 25 percent as of 10:44 a.m. ET on Thursday.