On Tuesday, a group of activist investors, which have a combined 5% stake in the business, called for a shakeup of the company and a replacement for CEO Steven Temeres as well as the entire board of directors.
"Bed Bath & Beyond is undertaking a comprehensive transformation to evolve the foundational structure of the business, drive shareholder value and best position the Company for long-term success. While the Activist Group has not provided any specific recommendations despite the Company's repeated requests, we note that many of the areas highlighted by the Activist Group in its press release are already being addressed at a detailed level by the Company.
Because maintains Upper management perks and compensation packages is more important than customer satisfaction and sales.
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