(RTTNews) - Bed Bath & Beyond Inc. (BBBY) has entered into a cooperation agreement with Ryan Cohen and RC Ventures LLC, the beneficial owners of approximately 9.8% of the company's outstanding shares. Three of RC Ventures' director designees - Marjorie Bowen, Shelly Lombard, and Ben Rosenzweig - will immediately join Bed Bath & Beyond's Board as new Independent Directors, and they will stand for election at the Annual Meeting.
Also, Bed Bath & Beyond announced that Ms. Bowen and Rosenzweig, will join a four-member Strategy Committee focused on exploring alternatives to unlock greater value from the company's buybuy BABY banner.
Bed Bath & Beyond noted that RC Ventures has agreed to abide by certain customary standstill provisions and will support the Board's full slate of directors at the 2022 Annual Meeting.
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