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Investor Group Names 16 Nominees For Election To Bed Bath & Beyond Board

An investor group comprising Legion Partners Holdings, LLC, Macellum Advisors GP, LLC and Ancora Advisors, LLC, announced Tuesday the nomination of sixteen highly-qualified, independent candidates for election to the Board of Directors of Bed Bath & Beyond Inc. (BBBY) at the 2019 Annual Meeting of Shareholders.

The Investor Group is deemed to beneficially own, in the aggregate, about 5.0 percent of Bed Bath's outstanding common stock, including about 1.0 percent of shares underlying call options which are currently exercisable.

The Investor Group believes the magnitude of value destruction, coupled with the board's self-enriching mindset as evidenced by its excessive pay packages and failure to hold itself and management accountable, necessitate a change in a majority of the board at the Annual Meeting.

The Investor Group is alarmed by the Company's poor stock price performance, which has significantly underperformed its proxy peers since Steven Temares became CEO on April 3, 2003.

In the Investor Group's view, the lack of retail expertise on the board has been an impediment to advancement and in the current operating environment will only result in the continuation of deteriorating results.

Despite chronic underperformance, the board has richly rewarded management and Executive Co-Chairmen Eisenberg and Feinstein with outsized compensation.

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