Beyond, Inc. — parent company of Bed Bath & Beyond and Overstock.com — has appointed new CEOs for both brands, and also named Camping World CEO and TV personality Marcus Lemonis as Executive Chairman of its board of directors.
The appointments follow the abrupt departure of former Beyond CEO Jonathan Johnson in November 2023. Johnson oversaw Overstock’s purchase of the Bed Bath & Beyond IP and digital assets with a $21.5 million bid in June 2023. At the time of his departure, then-President David Nielsen was named as interim CEO; he has now formally been appointed as the permanent CEO of Overstock.
Chandra Holt, formerly President and CEO of Conn’s HomePlus, is joining the company as CEO of Bed Bath & Beyond. Additionally, current CFO Adrianne Lee has been given the expanded role of Chief Financial and Administrative Officer.
A veteran merchandiser with expertise in ecommerce, Holt held various leadership roles at Walmart and Target before joining Conn’s HomePlus in 2021. Nielsen joined Overstock in 2009 and has held several executive positions since that time, including serving as President from 2019. Lee has been the company’s CFO since 2020 and played an integral role in Overstock’s acquisition of the Bed Bath & Beyond brand in 2023.
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“Beyond is in the midst of a great transformation that required changes to the executive team structure in support of our strategic objectives to drive shareholder value,” said new Executive Chairman Lemonis in a statement. “Chandra’s retail and leadership expertise and proven ecommerce track record make her an invaluable addition to our team to drive Bed Bath & Beyond forward. With Dave’s extensive experience in furniture and home furnishings ecommerce and retail liquidation, I am confident he will quickly reignite the valuable Overstock brand.”
Lemonis has been a director of Beyond since October 2023 and the Chairman of its board since December 2023. As Executive Chairman, Lemonis will work closely with the management team to lead and execute Beyond’s strategic priorities, including expanding customer offerings, driving operational excellence and enhancing shareholder value. Lemonis is also currently the Chairman and CEO of Camping World Holdings, and he helps homeowners improve the value and function of their homes on his TV show The Renovator. As Executive Chairman of Beyond, Lemonis will receive no salary or guaranteed equity. Instead, his compensation will be comprised entirely of performance-based stock options with “rigorous stock price hurdles,” in order to align his compensation with the creation of long-term stockholder value.
“[Marcus’] extensive experience and strategic insight have been instrumental in evolving our company since he joined the board,” said William Nettles, Independent Board Member and Chair of the Audit Committee at Beyond in a statement. “We are confident that his leadership will position us for the next phase of growth to deliver value to our employees, customers and shareholders through what we anticipate will be an exciting blend of new brands and services.”
