The Clap The death of Bed Bath & Beyond’s (NASDAQ: BBBY) CFO added to the company’s leadership crisis, pushing stocks down by about 18%.
The Deets The company has been enduring numerous leadership issues and actively attempting to regain investors’ trust.
The company recently eliminated several executive positions, COO being among the biggest of those positions. The company is still in search for a permanent CEO after the former CEO was laid off.
Why this Matters The ongoing leadership crisis continues to put off investors and customers. Bed Bath & Beyond had secured $500 million in financing and set out a plan to revive the business, but the transition period continues to be challenging.
What Now The company’s Chief Accounting Officer will step in as interim CFO.