- Bed Bath & Beyond has announced it appointed Mark Tritton as president, CEO, and a member of its board of directors
Bed Bath & Beyond announced it appointed Mark Tritton as President, CEO, and a member of its Board of Directors effective November 4, 2019. Tritton is succeeding interim CEO Mary Winston.
Tritton has more than 30 years of experience in the retail industry, including most recently as Executive Vice President and Chief Merchandising Officer at Target Corporation. At Target, Tritton had built a new durable retail model that repositioned the retailer’s long-term relevance with customers and positioned the business to grow profitably over time. And he also created and executed a vision for turning around Target’s private-label strategy thus reviving the company’s existing brands and launching over 30 brands in two and a half years. Target had achieved eight straight quarters of comparable sales increases, the best two-year stack performance in over a decade while Tritton worked there.
Prior to joining Target, Tritton also worked in merchandising, design, manufacturing, marketing and distribution at Nordstrom, Timberland, and Nike. While working as the EVP President of Nordstrom’s Product Group (NPG), Tritton oversaw merchandising, design, manufacturing, marketing and the omnichannel distribution of more than 50 private-label brands across the company’s full retail portfolio. And Tritton doubled the private-label business and created distinct brand assets. At approximately 10% of total Nordstrom multi-channel sales volume, NPG surpassed $1.5 billion in annual revenue during his tenure.
“We are thrilled to announce a President and CEO with one of the most impressive resumes in the business,” said Bed Bath & Beyond Independent Chairman Patrick Gaston in a statement. “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.”
Gaston also thanked Mary Winston for her dedication to Bed Bath & Beyond as the interim CEO. And he pointed out that Winston “put in place a strong foundation for Mark and the wider company to build upon in the years to come.”
Winston has served as the interim CEO since May 12, 2019, while the company searched for a permanent successor. Going forward, Winston will continue to serve on the Board of Directors and will work closely with Tritton and Gaston for facilitating an orderly and efficient transition.
Once Tritton joins Bed Bath & Beyond, he will immediately focus on accelerating the company’s ongoing business transformation, including improving the omnichannel experience for consumers, enhancing the merchandise assortment, and reviewing the cost structure and asset base.
“There is immense opportunity ahead for Bed Bath & Beyond, which remains one of the most recognizable and best loved retailers in the country today. 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,” added Tritton.
Featured image credit: Mark Tritton
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