02:35 PM EST, 01/05/2026 (MT Newswires) -- (Updates with stock movement in the headline and first paragraph.)

Bed Bath & Beyond ( BBBY ) shares gained over 6% in recent Monday trading after the company said its board has appointed Executive Chairman Marcus Lemonis as chief executive officer, effective Jan. 1.

Lemonis will continue to serve as executive chairman and principal executive officer, according to a filing with the US Securities and Exchange Commission.

The company also said it has ended the employment of Alexander Thomas as chief operating officer, effective Jan. 1. Thomas will serve as an advisor during a transition period, the company added.

Separately, Lemonis said in a letter to stockholders that the company has a "clear path to eliminate an incremental $25 million of expense" over the next 12 months, primarily through merger synergies. The company said in November it will acquire The Brand House Collective ( TBHC ) through a share deal.

Price: 6.26, Change: +0.35, Percent Change: +5.84