By Adriano Marchese
Beyond has appointed Marcus Lemonis to serve as principal executive officer and named Adrianne Lee to serve as its president and chief financial officer.
Lemonis has been the chairman of the location-based online retailer since December 2023 after joining the board only two months prior, Beyond said Monday. In February of last year, he was appointed executive chairman with broader responsibilities.
As executive principal officer and executive chairman, Lemonis will continue to drive the company's strategy to rebuild the business.
Beyond has been working towards bringing back physical Bed Bath & Beyond stores after the company filed for bankruptcy in April of 2023, from which it has since emerged.
Adrianne Lee, who has served as CFO for the last five years, is expected to take on an expanded role of president and CFO and work with Lemonis to accelerate Beyond's path to profitability to support future growth and success.
Beyond said that Dave Nielsen is no longer the company's president and PEO, but didn't elaborate on the conditions and reasons for departure.
Additionally, Beyond said it is committing to a $15 million annualized fixed cost reduction primarily related to its technology transformation.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
March 10, 2025 08:46 ET (12:46 GMT)
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