Union, N.J. – You can’t simply swipe right to find a dream CEO, but Bed Bath & Beyond has revealed the qualities it’s looking for in its next leader.
“Clearly, we want a focus on merchant skills, modern retailing, digital and omni capabilities,” independent board member Harriet Edelman said last week during Bed Bath & Beyond’s Q1 investor call.
The board’s also includes “sharp skills and emphasis on operations execution, cost effectiveness and balance sheet,” she said.
The company conducted its last CEO search just three years ago. The interregnum between the ouster of then-CEO Steven Temares and Bed Bath & Beyond’s hire of Mark Tritton was five months. Tritton, a former Target exec, was just the third CEO to lead the company and the first outsider to take up the reins.
With the exit of Tritton last week, the company has retained executive search firm Russell Reynolds to lead the process of identifying candidates for the permanent chief executive officer role.
Sue Gove, who is also chair of the board’s strategy committee, is serving as interim chief executive officer. Gove has been an independent director of Bed Bath & Beyond Inc. since May 2019, when a major executive shake-up brought about the exit of Temeras and several other senior leaders.
She has spent more than 30 years within the retail industry serving a variety of senior financial, operating and strategic roles that included president and CEO of Golfsmith International Holdings and chief operating officer of Zale Corporation. She is the president of Excelsior Advisors LLC, a retail consulting and advisory firm founded in August 2014.