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Bed Bath & Beyond Announces Board Changes; Five Independent Directors To Resign

Bed Bath & Beyond Inc. (BBBY) announced five of its current independent directors will step down as part of transformation of its Board. The company's co-Founders Warren Eisenberg and Leonard Feinstein also will retire from the Board. Following the changes, the Board will consist of 10 directors consisting of nine independent members. Patrick Gaston, current Lead Independent Director, will be new Independent Chairman of the Board.

Also, Bed Bath & Beyond said its Board will form a new Business Transformation and Strategy Review Committee to review the company's strategy and structure for the future.

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