(Reuters) – Bed Bath & Beyond said on Friday it appointed three new directors to its board as part of its settlement with Ryan Cohen, weeks after the billionaire investor pushed for strategic alternatives at the home goods retailer.
Cohen, who disclosed a nearly 10% stake in the company earlier this month, had criticized the retailer for an “overly ambitious” strategy and overpaying its top executives, urging it to explore alternatives that include separating its buybuy Baby chain and full sale of the company.
(Reporting by Deborah Sophia in Bengaluru; Editing by Shinjini Ganguli)