Bed Bath & Beyond denied a Seeking Alpha report Tuesday morning that it had hired former Target Chief Financial Officer Cathy Smith as its new CFO.
SA cited Reorg sources via Bloomberg in its earlier report.
Bed Bath said the earlier report from Reorg regarding a new CFO hire is inaccurate, SA said later Tuesday morning.
Last week, Bed Bath Chief Executive Officer Mark Tritton let go of five senior members of his leadership team, including chief merchandising officer, chief marketing officer, chief digital officer, chief legal officer and general counsel, and chief administrative officer. The chief brand officer resigned a week prior.
“We’ve helped millions of people make it easy to feel at home for almost half a century and our business remains uniquely placed to play an essential role in our customers’ lives. To do so, we need to make the business we call home, as special as our customers make theirs,” Tritton said in a statement at the time. “This is the first in a number of important steps we’re taking. Balancing our existing expertise with fresh perspectives from new, innovative leaders of change, will help us to better anticipate and support our customers in their life journeys and shopping needs.”
CFO Robyn D’Elia was not among the list and is still listed on Bed Bath’s website in the position. D’Elia joined the company in 1996 and has been CFO and treasurer since June 2018. Prior to that, she held multiple roles, including vice president-controller, vice president-financial planning and control, and assistant controller.
A representative from Bed Bath was unable to confirm or comment on SA’s earlier report to NJBIZ. Target did not respond to a request for comment.
Editor’s note: This story has been updated to reflect Bed Bath and Beyond’s rebuke of Seeking Alpha’s report the company had hired former Target CFO Cathy Smith for the chief financial officer role at the Union-based company.