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Bed Bath & Beyond Makes Peace With Activist Investors, Appoints 4 Directors

M. Corey Goldman

on Wednesday announced the appointment of four new board members as part of a truce with a group of activist investors who had been pushing to add their own selection of board members to the struggling company's board. The Union, N.J.-based company said it has approved adding four new independent directors to its board - John Fleming, Sue Gove, Jeffrey Kirwan and Joshua Schechter - bringing the total number of board directors to 13. A group of private investors including Legion Partners, Macellum Advisors and Ancora Advisors had been pressuring Bed Bath & Beyond to shake up its board with a slate of 10 recommended nominees as part of its push to force the company to cut costs and revamp its focus.