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Bed Bath & Beyond Has New Legal Head as it Seeks Sales Revival

Bed Bath & Beyond Has New Legal Head as it Seeks Sales Revival

Bed Tub & Over and above Inc., which is having difficulties to reverse more than a year of plunging gross sales, has a new top attorney, in accordance to the company’s site.

David Kastin is mentioned on the property products retailer’s corporate governance and govt administration webpage as main lawful officer and corporate secretary. His identify requires the position of Arlene Hong, who joined the business a lot more than two several years ago as its main authorized and compliance officer.

Hong’s title very last appeared on a Beth Tub & Outside of securities filing late previous thirty day period. Kastin on his LinkedIn site explained he commenced his new authorized main purpose before this thirty day period. The firm didn’t respond to a remark ask for.

The lawful management modify will come considerably less than two months right after Mattress Bath & Further than named Sue Gove its long-lasting CEO in October. She took over the purpose on an interim foundation right after the company’s board ousted her predecessor, Mark Tritton, in June.

Union, NJ-centered Bed Bath & Beyond explained in September it would shut and liquidate 56 stores following employing Kirkland & Ellis as restructuring counsel in August. The enterprise burned by way of hard cash and attained several personal debt-for-fairness swaps with bondholders in November as it struggled with a profits slump and inventory challenges.

In September, Mattress Bath & Outside of also named an interim chief financial officer in Laura Crossen next the demise of former finance chief Gustavo Arnal. The New York City Professional medical Examiner’s Business office decided that Arnal—who was doing the job on Mattress Tub & Beyond’s turnaround plan—died by suicide.

New Legal Main

Kastin is a former normal counsel at retailer Vitamin Shoppe Inc. and health club chain owner Town Sports Intercontinental Holdings Inc. He most not long ago was the top lawyer for hemp and pharmaceutical hashish producer Clever Leaves Global Inc.

He didn’t respond to a comment ask for.

Hong, a former prime attorney for garments suppliers J. Crew Group Inc. and Fullbeauty Brand names Inc., put in 4 yrs at Inc. and two decades as authorized main for e-commerce retailer Ideeli Inc. prior to joining Bed Bathtub & Further than in Might 2020.

She did not respond to a ask for for comment.

Hong was not just one of the company’s five greatest-compensated executives during fiscal 2021, in accordance to its most the latest proxy statement. The proxy filing mentioned that Winston & Strawn advises the compensation committee of Bed Beth & Beyond’s board.

Cleary Gottlieb Steen & Hamilton counseled Bed Tub & Past before this 12 months on an settlement with Ryan Cohen’s RC Ventures that gave the activist trader three seats on its board. Cohen, nonetheless, exited his stake in the retailer in August, sparking a sell-off in Bed Bath & Outside of stock.

Cleary and Delaware’s Richards, Layton & Finger taken care of a securities registration for Bed Tub & Over and above in November. Baker McKenzie, Genova Burns, and Waller Lansden Dortch & Davis ended up Canadian, New Jersey, and Tennessee counsel, respectively, to the corporation on that make any difference.