Bed Bath & Beyond names Mark Tritton as President and CEO, stock soars

Shoppers enter a building housing a Bed Bath & Beyond Inc. store in New York.

Mark Kauzlarich | Bloomberg | Getty Images

Shares of Bed Bath & Beyond spiked more than 18% on Wednesday after the company announced Mark Tritton would become its new president and CEO effective November 4.

Tritton will join Bed Bath & Beyond from Target, where he most recently acted as executive vice president and chief merchandising officer. He was instrumental in making shopping at Target seamless for customers whether they were in-store or purchasing items online. 

He succeeds interim CEO Mary Winston.

This is breaking news. Please check back for updates.

What are you thoughts on this Stocks information?