On Wednesday, Bed Bath & Beyond reported an increase in their shares amounting to around 21% after they announced their new CEO. Mark Tritton will be the CEO and president of the company starting November 4.
Mark Tritton was previously the chief merchandising officer and executive vice president of Target. He played a significant role in making the customer experience in target become satisfying regardless if they are shopping at the store or online.
Tritton was also responsible for the revamps done in many Target branches nationwide. This includes the introduction of private-label products, as well as securing collaborations with huge brands like Hunter Boots and Vineyard Vines.
In his 30 years of knowledge and experiences he got from working in the industry, Tritton had the chance to work with brands such as Nike, Nordstrom, and Timberland.
In a statement, they released last Wednesday, the chairman of the board in Bed Bath & Beyond, Patrick Gaston, explained that the appointment of Mark Tritton is crucial in the time of their evolution as a company. He said that Tritton’s “ability to re-define the retail experience” and his drive to make retailers grow made him the best candidate for the job. Gaston also believes that Tritton’s experiences in transforming Target will become beneficial for the company.
Mark Tritton is set to replace Mary Winston, the company’s current interim CEO. Winston has been acting as the CEO since May. She also said that she would continuously support the company by serving on the board after Tritton assumes the position.
His first agenda as the company CEO is to find ways to improve customer satisfaction ratings by making both the online and in-store shopping more convenient. He also plans to widen the merchandise assortment offered by the company.