Bed Bath & Beyond Ousts Co-Founders From Revamped Board Of Directors

Bed Bath & Beyond co-founders Warren Eisenberg and Leonard Feinstein have left the board of directors after facing pressure from three activist investors. Another five independent board members also have been replaced, creating a 10-person board that includes nine independent directors, but the investor activist trio still expressed dissatisfaction with the extent of the changes.

The updated board will form a Business Transformation and Strategy Review Committee to “review all aspects of the Company’s business transformation, strategy and structure,” according to a statement by the company. This committee will likely review investor complaints that include a “continued pattern…