Bed Bath & Beyond Inc. named Laura Crossen as senior vice president of finance and chief accounting officer, and Susie Kim as senior vice president of treasury and investor relations June 30, effective immediately.
The appointments come one day after an executive shakeup that saw the replacement of former CEO Mark Tritton with interim Chief Executive Officer Sue Gove.
Crossen will lead Bed Bath’s global accounting operations, financial reporting and tax functions. She joined the company in 2001 and most recently served as senior vice president of treasury, tax and finance transformation. She’ll continue to report to Executive Vice President and Chief Financial Officer Gustavo Arnal. Crossen replaces John Barresi, who left he company on June 10 for a role at Bausch Health Cos. Inc.
Meanwhile, Kim takes on Crossen’s prior treasury role, moving up from her previous position as vice president of investor relations.
“We are pleased to elevate Laura and Susie, who are accomplished leaders, have deep expertise and understanding of our business, and are ideal fits for these roles,” said Arnal.
“I’ve been impressed by Laura’s leadership, financial skills and dedication to our company. Over Laura’s 20-year tenure at Bed Bath & Beyond, she has demonstrated an incredible work ethic and has been an invaluable member of our team. I’m thrilled to remain working with her in this new role and look forward to our organization continuing to benefit from her contributions,” he added. “I am also pleased to have Susie play an expanded and even more pivotal role in our organization.”
In addition to Tritton’s exit, on June 29 Bed Bath announced the replacement of former Executive Vice President and Chief Merchandising Officer Joe Hartsig with Mara Sirhal. Interim CEO Gove had been an independent director of the company’s board of directors, and Sirhal most recently served as Bed Bath’s senior vice president and general manager for Harmon, as well as general merchandise manager of health, beauty and consumables.
That same day, the Union-based retailer separately announced a loss of $224 million for its adjusted operating profits. Bed Bath said it saw same-store sales plummet 27% in the first quarter of 2022 as shoppers nationwide pulled back on discretionary spending. The retailer ended the quarter with $107 million in cash.