Monday, April 22, 2019

Bed Bath & Beyond shakes up board amid investor pressure, co-founders step down

Reuters
Bed Bath & Beyond Inc said it appointed five new independent members to its board, replacing some directors including co-founders Warren Eisenberg and Leonard Feinstein, after facing pressure from a trio of activist investors.

Last month, activist investors Legion Partners Asset Management LLC, Macellum Advisors GP LLC and Ancora Advisors LLC urged Bed Bath & Beyond to replace its entire board and oust Chief Executive Steven Temares, citing the company’s inability to grow sales and margins.. . . more