The board of directors of Beyond Inc., a Murray-based owner of online retail brands Bed Bath & Beyond, Overstock and buybuy Baby, has announced changes in its executive leadership. The new appointments became effective with the announcement.
Marcus Lemonis, Beyond’s executive chairman, has been appointed to the additional role of principal executive officer. Adrianne Lee was also named president and chief financial officer, the company said in a release. These appointments fill positions formerly held by Dave Nielsen, who has left the company.
In addition to the appointments of Lemonis and Lee, Leah Putnam, former vice president of finance and controller, has been appointed chief accounting officer. Alexander Thomas, former senior vice president of finance and corporate development, now becomes chief operating officer of the company’s Beyond brand.
“The last year has been about identifying Beyond’s strategic priorities of delivering significant improvement in the key metrics of adjusted EBITDA, gross margin and reduced fixed costs as well as unlocking the value of our blockchain investments,” said Lemonis. “We are committed to making money and returning this business to growth and will not let any obstacles deter that goal. This leadership team is best-suited to carry out our mandate of delivering profitable commerce.”
“I am honored to take on expanded responsibilities as president and CFO,” said Lee. “Over the past year, I’ve had the opportunity to work closely with the team and know what is needed to accelerate change. I look forward to driving our strategic priorities and positioning Beyond for long-term success. Importantly, in the near term, that means identifying and driving tactics to return our core commerce business back to profitability and extracting value from our blockchain investments.”
Lemonis joined the company as a director of Beyond in October 2023 and was appointed chairman of the board in December 2023. In February 2024, he assumed the role of executive chairman. Under his expanded role will continue to drive the execution of Beyond’s strategic priorities of rebuilding a profitable commerce business while leveraging innovative technology, strategic partnerships and brand expansion to ultimately deliver growth, the company release said.
Lee has served as the company’s chief financial officer for the past five years and in her new capacity will work closely with Lemonis to accelerate the company on its path to profitability.
“Adrianne embodies the style of leadership this company will excel with — a demanding expectation for performance, capital allocation and an ever-changing customer experience,” said Lemonis. “She leverages her extensive experience in finance, administration and corporate strategy to demonstrate the kind of decisive leadership I expect.”