(New York Post) Investors loaded their carts with Bed Bath & Beyond stock Tuesday after a hedge fund triumvirate called for an overhaul of the board and an ousting of its chief executive. Shares climbed as much as 30 percent early Tuesday after three hedgies unveiled a slate of 16 candidates to replace Bed Bath & Beyond’s 12-person board, claiming the current board is “entrenched” and displays a “lack of retail expertise.”
The trio also argued that longtime Chief Executive Steven Temares should be replaced, saying his salary vastly exceeds that of his peers even as Bed Bath & Beyond’s stock has fallen due to sagging sales.
