Considering the major shakeup Bed Bath & Beyond (NASDAQ:BBBY) just announced for its board of directors, it seems management believes the activist investors pushing for a complete overhaul of the home goods retailer might have a good chance of success.
The home goods retailer announced it was replacing five directors and increasing the number of independent directors, as well as further boosting the diversity of the group, but that may not be enough. The private equity firms pushing for change say Bed Bath & Beyond’s actions still fall short, and they plan on forging ahead with their attempt to replace the entire board of directors with new nominees and ousting CEO Steven Temares.
