Bed Bath & Beyond names Target executive Mark Tritton its new CEO
Share to twitterPortrait of Mark Tritton, Target's new chief merchandising officer Thursday at Target August 25, 2016 in Minneapolis, MN.] Jerry Holt / jerry.Holt@Startribune.comBed Bath & Beyond has gone beyond to find its new president. This afternoon, it named Target CMO Mark J. Tritton as its new president and CEO, effective November 4.
Triton becomes only the third CEO—and the first outsider—in the company’s nearly 50-year history, and he comes into an organization steeped in inbred management and a fair degree of dysfunction as it has failed to keep up with the enormous changes the retail industry has faced over the past ten years.
Its roll-out of more than 30 house brands—a number of which have gone on to do more than $1 billion at retail—is often cited as a core element of that turnaround. Australian by birth, Tritton has spent much of his 30-year career on the retail side of the trade, with stints at Nordstrom and the Australian retailer Palmer Group. On the supply side, he has spent time with Nike and Timberland. This, however, marks his first time as CEO of a retailing corporation.
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