Monday, May 13, 2019

Bed Bath & Beyond long-time CEO steps down following investor pressure

Bed Bath & Beyond Inc.'s long-time Chief Executive Officer Steven Temares stepped down on Monday, following pressure from a group of activist investors that had been pushing for his ouster and a shakeup of the furnishing retailer's board.

The group, comprising Legion Partners Asset Management LLC, Macellum Advisors GP LLC and Ancora Advisors LLC, had piled pressure on the company since March, citing the company's inability to grow sales and margins.. . . more