Bed Bath and Beyond Restructures its Board

Bed Bath and Beyond (Union, N.J.) has added five new members to its board, while brand Co-Founders Earren Eisenberg and Leonard Feinstein, will retire their seats, according to WWD.

The total count on the board is now 10; there were formerly 12 members total. All new members are women, who will begin in their roles May 1. The board also includes nine independent directors. Patrick Gaston has been named the board’s independent chairman.

Gaston said in a statement, reported by WWD: “As we have communicated to Bed Bath & Beyond shareholders, the board has been undertaking a comprehensive review of its composition, governance structure and compensation practices … the changes announced today reflect significant shareholder input and underscore our commitment to ensuring we have best-in-class governance.”

The company shares are reportedly down 80 percent since early 2015, WWD reports.