Union, N.J. – After 4 months of executive search, Bed Bath & Beyond found its new leader close to home.
This morning, the company announced that board member and interim CEO Sue Gove will serve as president and CEO. She succeeds Mark Tritton, who left the company in June. She will continue to serve on the board of directors.
“During her tenure as interim CEO, Sue took consequential actions to increase liquidity and establish the groundwork to improve customer loyalty, traffic, and market share,” said Harriet Edelman, independent chair of the Bed Bath & Beyond Inc. board.
Edelman cited Gove’s focus on cash and her expertise in managing working capital and liquidity as well as her leadership skills.
“A strong team builder and hands-on leader, Sue has earned the trust of associates across headquarters, stores, and operations and is working alongside our two brand presidents to support our important supplier community,” she added.
Gove has been an independent director of Bed Bath & Beyond Inc. since May 2019, when a major executive shake-up saw the exist of then-CEO Steve Temeras and several other senior leaders.
She has spent more than 30 years within the retail industry serving a variety of senior financial, operating and strategic roles that included president and CEO of Golfsmith International Holdings and chief operating officer of Zale Corporation. She is the president of Excelsior Advisors, LLC, a retail consulting and advisory firm founded in August 2014.
Gove reiterated her commitment to the company’s back-to-basics philosophy, accelerating performance and focusing on financial returns.
“To ensure our customers have access to an assortment of compelling brands, we are engaging our valued supplier community in new ways to strengthen relationships and foster collaboration,” she said. “We have a significant opportunity ahead and we intend to regain our dominance as a preferred shopping destination.”