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Bed Bath & Beyond revealed on Wednesday, Oct. 26, that it has appointed a chief executive officer who will lead the company. The brand announced that Sue Gove who has been serving as interim CEO since June this year will remain in her seat but in a permanent role this time.
As per Fox Business, Gove will officially assume the role of Bed Bath & Beyond’s chief after the board of directors unanimously approves her appointment. The executives believe she can continue leading the company and will do a good job in working to turn around the business, as they have been struggling recently.
The holiday season is also approaching fast, and the directors are hoping the new CEO could also use this to further boost sales and help the company recover. Gove will also remain on Bed Bath & Beyond’s board even with her new position.
In any case, Gove has been with the company for more than three years and started as an independent director in May 2019. In March, she was assigned as chairwoman of the Board’s Strategy Committee and took over the CEO role from Mark Tritton in June (as interim) amid the plunging sales and chaotic internal corporate situation.
"We are pleased to announce the appointment of Sue as Chief Executive Officer. Sue is the best person to serve at the helm of Bed Bath & Beyond and continue leading the Company," Bed Bath & Beyond Inc.'s board of directors independent chair, Harriet Edelman, said in a press release. "During her tenure as Interim CEO, Sue took consequential actions to increase liquidity and establish the groundwork to improve customer loyalty, traffic, and market share.
She added, “A strong team builder and hands-on leader, Sue has earned the trust of associates across headquarters, stores, and operations and is working alongside our two Brand Presidents to support our important supplier community.”
Meanwhile, Bed Bath & Beyond also appointed Laura Crossen as interim chief financial officer. She replaced Gustavo Arnal, who took his own life last month while he was facing a huge lawsuit related to the business.
Photo by: Mike Kalasnik/Flickr (CC BY-SA 2.0)
