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30 May 2019

Mary A. Winston is the first Black woman since former Xerox CEO Ursula Burns to head a Fortune 500 company

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May 30, 2019 Category: Week In Review Posted by:

ABOVE PHOTO: Mary A. Winston (PRNewsFoto/Domtar Corporation)

By NewsOne Staff

Black women are making power moves in the realm of business. Mary Winston was recently appointed to serve as Bed, Bath & Beyond’s new interim CEO, making her the first Black woman at the helm of a Fortune 500 company since Ursula Burns resigned as Xerox’s CEO three years ago, Black Enterprise reported on May 24.

Winston’s business acumen has given her the ability to step into executive-level roles at major corporations. Prior to taking on the role at Bed, Bath & Beyond, she served as the executive vice president and chief financial officer at Family Dollar Stores Inc. In the past, she has led the financial planning and management for companies that include Giant Eagle, Inc., Scholastic Corporation, Visteon Corporation, and Pfizer Inc. Winston — a graduate of the University of Wisconsin and Northwestern University’s Kellogg Graduate School — has served on several boards. She is currently the president at WinsCo Enterprises Inc.

She served on Bed, Bath & Beyond’s board of directors prior to being named interim CEO and hopes to drive change within the company. She is replacing Steven Temares, who stepped down earlier this month after serving as CEO for 16 years.

 “This is an important time for Bed Bath & Beyond and we are committed to being the leading omnichannel retailer of choice for the home and heart-felt life events,” Winston said in a statement. “I look forward to building an even stronger future for Bed Bath & Beyond. As we continue to review our business initiatives, we will be focused on driving continued margin improvement, enhancing the in-store and online experience, and accelerating our transformation to the benefit of our shareholders, customers and other stakeholders.”

Winston’s leadership is needed. According to  a May 13 USA Today article, the company experienced a huge decline in sales while trying to battle with large online retailers. The decline led to the layoffs of 150 employees in March.

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