Target Exec Named President, CEO of Bed Bath & Beyond

UNION, NJ—Struggling retailer Bed Beth & Beyond has ended its search and named Target EVP Mark J. Tritton as its new president and CEO.

Tritton, a 30-year retail executive, will replace interim Bed Bath & Beyond CEO Mary Winston effective Nov.4. He will also serve on the company’s Board of Directors.

Tritton was most recently EVP and chief merchandising officer at Target Corp., where he was instrumental in transforming the omni-channel shopping experience. He has end-to-end retail industry experience in merchandising, design, manufacturing, marketing and distribution at some of the world’s leading iconic retailers and brands. In addition to Target, he has held executive-level positions with Nordstrom, Inc., Timberland LLC and Nike, Inc. At Nordstrom, Tritton served as EVP of Nordstrom’s Product Group.

“We are thrilled to announce a president and CEO with one of the most impressive resumes in the business,” said Patrick R. Gaston, Bed Bath & Beyond’s chairman of the board. “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.”

Winston served as interim CEO since May 12, during the search for a permanent successor. She will continue to serve on the Board of Directors and will work closely with Tritton and Gaston to facilitate an orderly and efficient transition.

Tritton’s immediate focus will be on accelerating the Bed Bath & Beyond’s ongoing business transformation that includes improving the omni-channel experience for consumers, enhancing the merchandise assortment and reviewing the company’s cost structure and asset base, the company states.

“There is immense opportunity ahead for Bed Bath & Beyond, which remains one of the most recognizable and best loved retailers in the country today,” Tritton states. “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.”