Bed Bath & Beyond's co-founders retire from board, adds 5 new members

Bed Bath & Beyond on Monday said its co-founders and co-chairmen Warren Eisenberg and Leonard Feinstein would retire from the board and the retailer would appoint five independent board directors.

Shares of the company were up 4.6% at $18.21 before the bell.

Last month, the home furnishing retailer faced pressure from a trio of activist investors — Legion Partners Asset Management, Macellum Advisors GP, and Ancora Advisors — to replace its entire board and oust Chief Executive Steven Temares.

The company on Monday said it had invited the activist group to participate in the transformation of the board, but the investors declined the invitation.

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