6 executives out in shakeup at Bed Bath & Beyond

Dec. 17 (UPI) -- Retailer Bed Bath & Beyond underwent a surprise leadership shakeup Tuesday that saw six executives leave the company.

The moves come barely a month after Bed Bath & Beyond CEO Mark Tritton assumed his post. He said the retailer will restructure with new administrative, brand, merchandising, marketing, digital and legal chiefs, as well as a new general counsel.

"This is the first in a number of important steps we're taking," Tritton said in a statement. "Balancing our existing expertise with fresh perspective from new, innovative leaders of change, will help us to better anticipate and support customers in their life journeys and shopping needs.

"As we look to the future, I would like to thank all those leaving today for their work and commitment to our business over the years."

The leadership shuffle comes after company said last spring it would close 40 stores to meet fiscal goals. It has also been conducting a strategic review of its portfolio of roughly 1,500 stores.

Shares of Bed Bath & Beyond jumped by 12 percent on the Nasdaq by mid-Tuesday afternoon.