Bed Bath & Beyond appoints new chief accountant amid latest management changes as sales slump

Bed Bath & Beyond appointed a new chief accountant on Thursday, marking another change in leadership as the retailer struggles with falling sales.

The company said Laura Crossen will take over as senior vice president of finance and chief accountant, replacing John Barresi, who stepped down earlier this month after taking office last May. Crossen has been with the company since 2001, most recently as senior vice president of treasury, tax and finance.

The change comes a day after Bed Bath said it was replacing CEO Mark Tritton, a veteran Target who has worked to win back customers and increase the company’s online sales since joining the company in 2019. Bed Bath & Beyond has appointed Sue Gove, an independent director on the board of directors, as interim CEO and said it is working to find a permanent replacement.

Bed Bath & Beyond also said Thursday that it has appointed Susie A. Kim as senior vice president of treasury and investor relations, taking over Crossen’s previous role at treasury.

The leadership change comes after Bed Bath & Beyond’s sales fell to $1.46 billion in the most recent quarter ended May 28, down from $1.95 billion a year ago. The company said it expects same-store sales to recover in the second half of the fiscal year, but did not provide a specific outlook.

Bed Bath has hired Berkeley Research Group, a retail consulting firm, to review its balance sheets and inventory. He is also working with Russell Reynolds to find a permanent CEO.

The company’s shares have fallen more than 65% this year.

— Melissa Repko of CNBC contributed to this report.

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