UNION, N.J., Oct. 30, 2019 /PRNewswire/ -- Bed Bath & Beyond Inc. (BBBY) has received Executive Women of New Jersey's (EWNJ) 2019 Corporate Board Gender Diversity Award in recognition of the Company's impactful level of gender inclusion by having three or more women on its Board of Directors. The Award was presented at EWNJ's biennial A Seat at the Table Corporate Gender Diversity Awards Breakfast held Oct. 28, 2019 at the APA Hotel Woodbridge in Iselin, NJ.
EWNJ recognized Bed Bath & Beyond and 29 other companies for making the EWNJ Honor Roll, a list of New Jersey public companies that have three or more women on their board of directors. This list is part of the organization's efforts to ensure that women have equal access to the boardroom and high-level executive leadership. The event also featured the exclusive release of EWNJ's report on the number of women serving on boards and in the top leadership of public companies in New Jersey. The report, produced in collaboration with PricewaterhouseCoopers (PwC), is the only one of its kind in the state.
Patrick R. Gaston, Bed Bath & Beyond's Chairman of the Board, said "We have significantly transformed the Bed Bath & Beyond Board with the appointment of 10 new independent directors over the past six months. The newly transformed Board, which includes seven female directors, brings rich diversity of perspectives, backgrounds, ages, gender, race and ethnicity and reflects the diversity of the Company's loyal customers and dedicated associates."
"EWNJ is thrilled to present this year's list of the 30 companies that are leading the way on women's representation in senior governance as part of our fourth report on gender diversity in New Jersey," stated Barbara E. Kauffman, President of EWNJ and EVP & COO of Newark Regional Business Partnership. "This year, we have the highest number of Honor Roll companies to date and it shows that while there is still much more work to be done, our efforts are working. The undeniable impact of women's leadership is being more fully recognized by the private sector in New Jersey. We salute all of our Honor Roll companies and look forward to partnering with them as we continue in pursuit of our mission to increase the number of women on corporate boards and in senior governance."
"This year's list reflects the progress companies have made since 2017 when our last list was published with 22 companies," added Anna María Tejada, Esq., President Elect of EWNJ, Co-Chair of A Seat at the Table, and Partner at Kaufman Dolowich & Voluck, LLP. "We applaud these companies' progress toward inclusion and diversity, and as quantified in EWNJ's research, New Jersey's business environment is stronger as a result."
"We are delighted to welcome these companies to our Honor Roll. While it is encouraging that this year's list has the highest number of companies since we began publishing it in 2014, the pace of progress remains woefully slow particularly given the demonstrable business value that women's leadership delivers both financially and operationally. There are a significant amount of companies that still need women in their leadership ranks and numerous women across the board who still need sponsors," explained Faith Taylor, EWNJ Board Member, Co-Chair of A Seat at the Table, and Professor at Feliciano Business School of Montclair State University.
About the Company
Bed Bath & Beyond Inc. and subsidiaries (the "Company") is an omnichannel retailer that is the trusted expert for the home and heartfelt life events. The Company sells a wide assortment of domestics merchandise and home furnishings. The Company also provides a variety of textile products, amenities and other goods to institutional customers in the hospitality, cruise line, healthcare and other industries. Additionally, the Company is a partner in a joint venture which operates retail stores in Mexico under the name Bed Bath & Beyond.
Founded in 1980, EWNJ is the leading senior-level executive women's organization that is committed to increasing the number of women serving on corporate boards and in the top leadership of New Jersey corporations. To this end, we publish a biennial report on the number of women on boards and in the senior governance of public companies in New Jersey. This report is the only one of its kind in the state.
We also host an array of events designed to offer women executives prime networking opportunities, to amplify our gender diversity advocacy efforts, and to raise funds for our work including our Graduate Merit Award Program, which is focused on establishing a pipeline of women leaders. As the largest provider of scholarships to women who are non-traditional graduate students in New Jersey, we are proud to have awarded over $1.3 million dollars to deserving candidates over the last 30 years.