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Bed, Bath & Beyond’s new interim CEO is black!
According to a press release from the company, Mary Winston took over as chief executive officer after Steven Temares stepped down and resigned as a member of the Bed, Bath & Beyond board.
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Winston is the first black woman to take over a Fortune 500 company since 2017, according to Black Enterprise. She recently joined the Bed, Bath & Beyond’s board of director’s but is seasoned in her line of work as an executive. She jumpstarted her career as a CPA and auditor at Arthur Anderson & Co., and has held positions at Giant Eagle Inc., Scholastic Corporation and Pfizer. Most recently, Winston was executive vice president and chief financial officer of Family Dollar Stores.
Winston being appointed comes in the midst of Bed, Bath & Beyond facing a decline in sales, series of layoffs, and 40 store closures, according to USA Today.
The company’s Independent Chairman Patrick Gatson says it needs a fresh start.
“As the Company continues its efforts to improve its financial performance and enhance its competitive position, the Board determined that now is the right time to identify the next generation of leadership. We are fortunate to have someone of Mary’s caliber to serve as Interim CEO while the Board conducts a search for a permanent successor, and are confident in her ability to lead the Company forward during this transition period,” said Gaston.
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Although the company has already formed a committee to find its next CEO, Winston wants to be sure to leave her mark on the company.
“This is an important time for Bed, Bath & Beyond and we are committed to being the leading omnichannel retailer of choice for the home and heart-felt life events. Together with the Board, including the members of the Business Transformation and Strategy Review Committee, the leadership team and our more than 60,000 associates, I look forward to building an even stronger future for Bed Bath & Beyond. As we continue to review our business initiatives, we will be focused on driving continued margin improvement, enhancing the in-store and online experience, and accelerating our transformation to the benefit of our shareholders, customers and other stakeholders,” said Winston.
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