Shareholders re-elected the company’s 10-member board of directors and voted that the company should continue to hold “say on pay” votes annually. The company also said it has kept compensation for other executives at the same level as the previous fiscal year. The compensation package, which includes stock awards, for Chief Executive Steven Temares has been reduced by 14 percent each of the past two fiscal years, to the current level of $14.55 million, down from $19.6 million in fiscal 2015. It acquired Paramus-based cooking store Chef Central and plans to open Chef Central demonstration kitchens, with cooking classes, in its stores to make its brick-and-mortar stores more exciting. It acquired online home décor retailer One Kings Lane, for its online expertise, and, in order to be able to offer more customized products. It also invested in 2016 in acquisitions it believes will position it to thrive in the future. “We don’t think people should be paid based on the price of the stock,” said Co-Chairman of the Board Warren Eisenberg, who founded Bed Bath & Beyond with Leonard Feinstein 46 years ago.īed Bath executives have acknowledged over the past two years that they need to do more to adapt to the new digital age of shopping, but they say they have made major investments in technology and infrastructure that will help the company compete better against and other online home furnishings retailers. But Bed Bath executives and founders said Thursday that they feel they are being punished for the general pessimism on Wall Street about the retail sector. The vote is advisory only, with the board of directors still in charge of setting executive salaries. This is the third year shareholders have said no on executive pay levels, despite steps the company has taken to reduce the compensation of its chief executive and to hold the line on management salaries. (BBBYQ) stock quote, history, news and other vital information to help you with your stock trading and investing. showed their disappointment with the company’s stock performance on Thursday by once again showing their displeasure with executive compensation.īut Bed Bath management, at the Union-based company's annual meeting, said investment they have been making over the past five years will pay off tremendously in the long run. The shareholders of housewares retailer Bed Bath & Beyond Inc. Watch Video: Bed, Bath and Beyond may get rid of famous coupons
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