Bed Bath & Beyond is replacing CEO Mark Tritton in a leadership shakeup after the retailer struggled through another quarter of declining sales and posted a steeper loss.
The company said Wednesday that Sue Gove, an independent director on the board, will step in as interim CEO. The change comes after a multi-year push to revive Bed Bath’s brand, grow online sales and win back customers. Tritton, a Target veteran, had led the effort after joining in 2019.
Shares closed down 24% Wednesday.CNBC