The new Bed Bath & Beyond's CEO is out, days after activist firm called for his ouster
Publishing timestamp: 2023-11-06 11:47:41
Summary
The article discusses the departure of Bed Bath & Beyond's CEO, Jonathan Johnson, following pressure from activist hedge fund JAT Capital. JAT Capital blamed Johnson for the company's poor financial performance and called for his immediate removal. The hedge fund suggested that Marcus Lemonis, CEO of Camping World, should take over management of the company. David Nielsen, Beyond's president, has become the interim CEO while the board searches for a permanent candidate. The article also mentions Johnson's previous role as CEO of Overstock.com and his involvement in the acquisition of Bed Bath & Beyond.
Sentiment: NEGATIVE
Keywords: business news, camping world holdings inc, retail industry, overstock.com inc, business, breaking news: business,
Source: https://www.cnbc.com/2023/11/06/bed-bath-beyond-ceo-quits-amid-overstock-transition.html