Mattress Tub & Past Has New Authorized Head as it Seeks Gross sales Revival
David Kastin is outlined on the dwelling items retailer’s company governance and govt management webpage as main authorized officer and corporate secretary. His identify usually takes the area of Arlene Hong, who joined the enterprise more than two decades ago as its chief legal and compliance officer.
Hong’s name last appeared on a Beth Tub & Over and above securities submitting late very last month. Kastin on his LinkedIn web page stated he started off his new legal main job earlier this thirty day period. The firm did not answer to a comment request.
The lawful management adjust arrives considerably less than two months immediately after Mattress Bathtub & Beyond named Sue Gove its everlasting CEO in October. She took over the role on an interim basis just after the company’s board ousted her predecessor, Mark Tritton, in June.
Union, NJ-centered Bed Bathtub & Beyond explained in September it would shut and liquidate 56 retailers right after hiring Kirkland & Ellis as restructuring counsel in August. The company burned by hard cash and achieved several debt-for-equity swaps with bondholders in November as it struggled with a sales slump and inventory concerns.
In September, Mattress Tub & Beyond also named an interim chief money officer in Laura Crossen following the death of previous finance chief Gustavo Arnal. The New York City Professional medical Examiner’s Office determined that Arnal—who was operating on Mattress Tub & Beyond’s turnaround plan—died by suicide.
New Lawful Chief
Kastin is a previous general counsel at retailer Vitamin Shoppe Inc. and health and fitness center chain owner Town Athletics Worldwide Holdings Inc. He most just lately was the top attorney for hemp and pharmaceutical hashish producer Intelligent Leaves Global Inc.
He did not reply to a comment ask for.
Hong, a previous prime attorney for apparel stores J. Crew Group Inc. and Fullbeauty Makes Inc., put in 4 several years at Amazon.com Inc. and two yrs as lawful chief for e-commerce retailer Ideeli Inc. prior to becoming a member of Mattress Bathtub & Outside of in Might 2020.
She did not reply to a ask for for remark.
Hong was not a person of the company’s 5 optimum-compensated executives in the course of fiscal 2021, according to its most the latest proxy assertion. The proxy filing noted that Winston & Strawn advises the compensation committee of Mattress Beth & Beyond’s board.
Cleary Gottlieb Steen & Hamilton endorsed Mattress Bath & Past earlier this 12 months on an arrangement with Ryan Cohen’s RC Ventures that gave the activist investor 3 seats on its board. Cohen, having said that, exited his stake in the retailer in August, sparking a offer-off in Mattress Tub & Over and above stock.
Cleary and Delaware’s Richards, Layton & Finger dealt with a securities registration for Mattress Bath & Over and above in November. Baker McKenzie, Genova Burns, and Waller Lansden Dortch & Davis were being Canadian, New Jersey, and Tennessee counsel, respectively, to the company on that make any difference.