Mary Winston will be the first black women to lead a Fortune 500 company since Ursula Burns was the CEO of Xerox in 2017.
Winston worked as executive vice president and chief financial officer of family Dollar Stores landing her a spot on Black Enterprise’s‘50 Most Powerful Women in Corporate America.’
According to USA Today, Bed Bath and Beyond is facing a decline in sales due to Amazon and had a round of layoffs earlier this year… “Bed Bath & Beyond has a significant opportunity to drive value creation by building on its great brands and strong customer affinity,” said Patrick Gaston, Independent Chairman of the Bed Bath & Beyond Board.
“As the Company continues its efforts to improve its financial performance and enhance its competitive position, the Board determined that now is the right time to identify the next generation of leadership. We are fortunate to have someone of Mary’s caliber to serve as Interim CEO while the Board conducts a search for a permanent successor, and are confident in her ability to lead the Company forward during this transition period,” said Gatson.
“This is an important time for Bed Bath & Beyond and we are committed to being the leading omnichannel retailer of choice for the home and heart-felt life events,” said CEO Winston.
“Together with the Board, including the members of the Business Transformation and Strategy Review Committee, the leadership team and our more than 60,000 associates, I look forward to building an even stronger future for Bed Bath & Beyond.
As we continue to review our business initiatives, we will be focused on driving continued margin improvement, enhancing the in-store and online experience, and accelerating our transformation to the benefit of our shareholders, customers and other stakeholders,” she added.