UNION, N.J., May 13, 2020 /PRNewswire/ -- Bed Bath &
Beyond Inc. (Nasdaq: BBBY) announced the appointment of
Cindy Davis as Executive Vice
President (EVP), Chief Brand Officer
of Bed Bath & Beyond Inc. and President, Decorist, effective
May 26, 2020. Ms. Davis will
report directly to Mark Tritton, Bed
Bath & Beyond's President & CEO.
Ms. Davis will be responsible for developing and implementing
the Promise pillar of the Company's strategic growth plan.
Her responsibilities will include stewardship and execution
of brand strategy, as well as marketing and communications across
the Company's retail banners. Ms. Davis will also support the
team responsible for developing and executing the growth strategy
for the Company's online interior design platform, Decorist, which
provides customers with personalized home design
services.
Mark Tritton, President &
CEO, said, "We have continued to invest in our business and take
measured steps to enhance how we serve our loyal customers
throughout the COVID-19 crisis. Cindy's arrival as Chief
Brand Officer follows a number of
recent executive appointments as we establish a world class
leadership team to rebuild our business and strengthen our
authority in the Home space.
"Cindy has an incredible track record leading brand strategy,
digital, and consumer insights for some of the largest and most
beloved brands in the country and her expertise will be invaluable
as we strengthen our omni-always shopping experience and deepen our
relationship with customers."
Ms. Davis will join the Company from L Brands, where she
currently serves as EVP and Chief Digital Marketing Officer,
responsible for innovating marketing solutions to drive growth
across brands and geographies, accelerating digital capabilities
company-wide and building loyal customer relationships. Previously
she was EVP, Consumer Experience, at Disney/ABC Television, prior
to which she held strategic leadership positions at other leading
retail and leisure brands, including Walmart, Inc., Sam's Club,
Yum! Brands, Starwood Hotels and Hilton Hotels.
Ms. Davis said, "Our homes have never been more important to us
and I am excited to join Bed Bath & Beyond at a time when it is
making it easy for customers to feel at home. I look forward
to working with Mark and this outstanding leadership team to build
an even stronger connection with customers in the
future."
Ms. Davis's appointment bolsters the Company's new senior
leadership team, which also includes several recent appointments:
- Gustavo Arnal – EVP, Chief
Financial Officer & Treasurer
- John Hartmann – EVP, Chief
Operating Officer and President of buybuy BABY
- Joe Hartsig – EVP, Chief
Merchandising Officer and President of Harmon Inc.
- Gregg Melnick – EVP, Chief
Stores Officer
- Rafeh Masood – EVP, Chief
Digital Officer
- Arlene Hong – EVP, Chief Legal
Officer & Corporate Secretary
About Bed Bath & Beyond Inc.
Bed Bath & Beyond Inc. and subsidiaries (the "Company") is
an omnichannel retailer that makes it easy for our customers to
feel at home. The Company sells a wide assortment of domestic
merchandise and home furnishings. The Company also provides a
variety of textile products, amenities and other goods to
institutional customers in the hospitality, cruise line, healthcare
and other industries. Additionally, the Company is a partner
in a joint venture which operates retail stores in Mexico under the name Bed Bath &
Beyond.
Forward Looking Statements
This press release contains forward-looking statements,
including, but not limited to, the Company's progress and
anticipated progress towards its long-term objectives. Many
of these forward-looking statements can be identified by use of
words such as may, will, expect, anticipate, approximate, estimate,
assume, continue, model, project, plan, goal, and similar words and
phrases, although the absence of those words does not necessarily
mean that statements are not forward-looking. The Company's
actual results and future financial condition may differ materially
from those expressed in any such forward-looking statements as a
result of many factors. Such factors include, without
limitation: general economic conditions including the housing
market, a challenging overall macroeconomic environment and related
changes in the retailing environment; risks associated with
COVID-19 and the governmental responses to it, including its
impacts across the Company's businesses on demand and operations,
as well as on the operations of the Company's suppliers and other
business partners, and the effectiveness of the Company's actions
taken in response to these risks; consumer preferences, spending
habits and adoption of new technologies; demographics and other
macroeconomic factors that may impact the level of spending for the
types of merchandise sold by the Company; civil disturbances and
terrorist acts; unusual weather patterns and natural disasters;
competition from existing and potential competitors across all
channels; pricing pressures; liquidity; the ability to achieve
anticipated cost savings, and to not exceed anticipated costs,
associated with organizational changes and investments; the ability
to attract and retain qualified employees in all areas of the
organization; the cost of labor, merchandise and other costs and
expenses; potential supply chain disruption due to trade
restrictions, and other factors such as natural disasters, such as
pandemics, including the COVID-19 pandemic, political instability,
labor disturbances, product recalls, financial or operational
instability of suppliers or carriers, and other items; the ability
to find suitable locations at acceptable occupancy costs and other
terms to support the Company's plans for new stores; the ability to
establish and profitably maintain the appropriate mix of digital
and physical presence in the markets it serves; the ability to
assess and implement technologies in support of the Company's
development of its omnichannel capabilities; the ability to
effectively and timely adjust the Company's plans in the face of
the rapidly changing retail and economic environment, including in
response to the COVID-19 pandemic; uncertainty in financial
markets; volatility in the price of the Company's common stock and
its effect, and the effect of other factors, including the COVID-19
pandemic, on the Company's capital allocation strategy; risks
associated with the ability to achieve a successful outcome for its
business concepts and to otherwise achieve its business strategies;
the impact of intangible asset and other impairments; disruptions
to the Company's information technology systems including but not
limited to security breaches of systems protecting consumer and
employee information or other types of cybercrimes or cybersecurity
attacks; reputational risk arising from challenges to the Company's
or a third party product or service supplier's compliance with
various laws, regulations or standards, including those related to
labor, health, safety, privacy or the environment; reputational
risk arising from third-party merchandise or service vendor
performance in direct home delivery or assembly of product for
customers; changes to statutory, regulatory and legal requirements,
including without limitation proposed changes affecting
international trade; changes to, or new, tax laws or interpretation
of existing tax laws; new, or developments in existing, litigation,
claims or assessments; changes to, or new, accounting standards;
and foreign currency exchange rate fluctuations. The Company
does not undertake any obligation to update its forward-looking
statements.
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SOURCE Bed Bath & Beyond Inc.