4 minutes

Two pairs of Beyond executive team roles will be merged, as Chandra Holt leaves the company.

The owner of Bed Bath & Beyond, Overstock.com and Zulily announced structural changes that will reshape the Beyond Inc. executive team. Ultimately, two pairs of leadership roles will merge, with another altered, in a larger effort to improve efficiency.

Among the key changes:

  • Elimination of co-chief executive roles
  • Expansion of executive chairman role
  • Elimination of dual chief merchant roles

Beyond Inc. is No. 63 in the Top 1000. The database is Digital Commerce 360’s ranking of the largest North American online retailers. Bed Bath & Beyond ranked No. 47 before its bankruptcy. Overstock.com previously ranked No. 50.

Beyond Inc. executive team changes include departure of Chandra Holt

In addition to these changes, Chandra Holt, CEO, has exited the company after only four months in the role. Holt previously held positions at Walmart and Conn’s HomePlus. She was one of the highest-ranking female executives at Walmart before taking the top role at Conn’s.

Beyond’s restructuring, though, goes deeper than just a change in CEOs. The company’s marketing and merchandising leadership roles have been streamlined across all three brands, and Dave Nielsen has been appointed as president, overseeing marketing, merchandising, and supply chain functions for Beyond.

advertisement

The restructuring at the top comes on the heels of a first quarter that saw light growth, reversing a trend of year-over-year decline. Beyond also relaunched the Overstock brand.

In addition, the past year saw Beyond acquire children’s apparel brand Zulily. Beyond spent $4.5 million for the rights to Zulily’s domain name, website, trademarks, customer database, social media accounts and software. The company plans to relaunch the Zulily website sometime in 2024. Like Overstock with its “crazy good deals,” Zulily was known for its “flash sales,” which came in the form of 72-hour deep discounted deals.

Recent quarterly earnings results at Beyond

In its first-quarter earnings report, Marcus Lemonis, the increasingly active executive chairman, pointed to margin improvement, SG&A reduction, efficiency, and alignment as key goals of the streamlining and restructuring. Lemonis said these actions will help “our organization to reflect what we believe will yield greater efficiencies and better results. I’m pleased with the sequential progress we are making and clearly see the path to our goal.”

advertisement

Cheri Mason, president of Catalyst Leadership Management, which provides corporate consulting, said Beyond was on the right track with its moves.

“When you have co-chief executives, who is in charge of what?” Mason asked. Nevertheless, she said that Beyond’s structural changes were wise from a management standpoint.

“And expanding the role of the executive chairman makes sense,” she stated. “Employees today expect to see and engage with C-suite leaders.”

Mason added that Beyond’s moves may be as much about pleasing its 1,000-plus employees as it is for Beyond brands’ customers.

advertisement

Do you rank in our databases? 

Submit your data and we’ll see where you fit in our next ranking update.

Sign up

Stay on top of the latest developments in the ecommerce industry. Sign up for a complimentary subscription to Digital Commerce 360 Retail NewsFollow us on LinkedInTwitterFacebook and YouTube. Be the first to know when Digital Commerce 360 publishes news content.

Favorite