UNION, N.J., July 28, 2020 /PRNewswire/ -- Bed Bath
& Beyond Inc. (Nasdaq: BBBY) today announced the
appointment of Lynda Markoe as
Executive Vice President, Chief People & Culture Officer. Ms.
Markoe has extensive industry experience from over 30 years at
major retailers and will join Bed Bath & Beyond in September 2020.
As a key member of the leadership team, she will report to
Mark Tritton, Bed Bath &
Beyond's President & CEO, and will be responsible for the
Company's People growth pillar, which is focused on creating a
talent engine and culture that attracts, retains and develops
diverse and high-performing teams. She will oversee the
cultural transformation of the business around the Company's core
values and purpose.
President & CEO Mark Tritton
said, "We are excited to welcome Lynda to our leadership
team. She brings a wealth of experience from some of the
world's leading retailers, delivering strategic results through
talent management and cultural change. As we rebuild our
authority in the home and develop our omni-always future, Lynda's
experience and dynamic leadership will help connect our purpose,
strategy and culture to accelerate the people powered
transformation of our business."
Ms. Markoe said, "Mark has assembled an impressive leadership
team, and I am honored to be a part of it. I look forward to
accelerating the Company's cultural transformation and supporting
its broader purpose to make it easy to feel at home. This
transformation will be values driven with our associates at the
center as we build an experience that is inspired by our
customers."
Since 2003, Ms. Markoe has held various leadership roles at
J.Crew Group, Inc., including Chief Administrative Officer and
Global Head of Human Resources. During her tenure at J.Crew,
she drove the company's talent organization and strategies,
including developing a global workforce with capabilities across,
brands, channels and locations. She integrated the talent
strategy and the business strategy while championing culture and
associate engagement. Prior to that, Ms. Markoe was a human
resources leader at Gap Inc. from 1988 until 2003.
Ms. Markoe succeeds Bill Gilooly,
who will work closely with her to ensure a smooth transition before
departing the Company. "I want to thank Bill for all his work
at Bed Bath & Beyond. He's a respected colleague and
friend, and we truly appreciate his dedication over the last 15+
years," Mr. Tritton said.
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, including the Company's strategic
restructuring program; 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.