Bed Bath taps former Target exec to become CEO, president

Former Target executive Mark Tritton will become president and chief executive officer at Bed Bath & Beyond Inc. on Nov. 4.

He succeeds interim CEO Mary Winston, who took the helm in May when longtime leader Steven Temares stepped down due to pressure from activist investors. Winston will continue to serve on the board of directors and work with Tritton during the transition.

Tritton has more than three decades in the retail industry, including time spent at Nordstrom Inc., Timberland LLC and Nike Inc. Most recently, he spent three years as executive vice president and chief merchandising officer at Target Corp., where was responsible for overseeing all of the retailer’s enterprise buying, sourcing, product design and development, visual merchandising and merchandising operations.

At Target, Tritton created and executed a vision for the company’s private label strategy, reviving existing brands and launching over 30 more in just two and a half years. The company achieved eight straight quarters of comparable sales increases during his tenure — Target’s best two-year stack performance in more than a decade.

As an integral contributor to Target’s impressive transformation, we will benefit from his vision, leadership, and creativity to successfully transform our business.
– Patrick Gaston, chairman

“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,” said Chairman Patrick Gaston in a statement. “As an integral contributor to Target’s impressive transformation, we will benefit from his vision, leadership, and creativity to successfully transform our business.”

Tritton’s first order of business is to accelerate the Union-based company’s ongoing business transition, including the improvement of customer omni-channel experience, the enhancement of merchandise assortment, and a review of the company’s 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,” Tritton said in a statement. “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.”