By Allison Prang
Bed Bath & Beyond Inc. (BBBY) named Target chief merchandising officer the company's new chief executive and president after Bed Bath and Beyond's former CEO resigned in May.
Bed Bath & Beyond said Mark Tritton will become CEO and president Nov. 4. The company's interim CEO, Mary Winston, will keep serving on the company's board, Bed Bath & Beyond said.
Shares of Bed Bath and Beyond rose 15.8% to $11.51 in after-hours trading.
Mr. Tritton takes over for the company's last CEO, Steven Temares, who had been CEO since 2003. Three activist investors had pushed for him to leave arguing that Bed Bath & Beyond didn't change its business model to cater to the popularity of e-commerce.
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