Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, What Led to Europes Deadliest Train Crash in a Decade, This Week in Crypto: Ukraine War, Marathon Digital, FTX, Former President/CEO, Bed Bath & Beyond Inc. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. See also Other Works | Publicity Listings | Official Sites View agent, publicist, legal and company contact details on IMDbPro Bed Bath & Beyond As such we would remain consumers that it is best to start by writing to the primary and secondary contacts. Companies such as Crate & Barrel, IKEA, HomeGoods, and the numerous Williams Sonoma companies like Pottery Barn and West Elm are competitors as well. His parents had married on 22 October 1873 in Boughton under Blean, Kent. The oldest executive at Bed, Bath & Beyond Inc. is Andrea Weiss, 65, who is the Independent Director. Formed in 1971, the stores sell goods primarily for the bedroom and bathroom, as well as kitchen and dining room. - Revenue growth. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. Just click the "Edit page" button at the bottom of the page or learn more in the Biography submission guide. This is a BETA experience. With the companys fleet optimization and banner sell-offs largely absorbed, same-store revenues fell 23%, off 24% in-store and 21% in digital. The 30-year retail veteran previously was executive VP at Nordstrom and president of. Biography. Nell Tritton2 was educated at Somerville . [3], On May 13, 2019, Bed Bath & Beyond announced that CEO Steven Temares would step down "effectively immediately" and would resign his seat on the board of directors. Then, when the economy slowed, he was fired, and Sue Gove took his place. Replacements for both roles, however, come with considerable relevant experience at Target that should help facilitate a seamless transition and continuation of Target's sound financial and merchandising strategies.. Born in Brisbane in 1899, Lydia Ellen Tritton (Nell) was the daughter of a wealthy furniture-maker and retailer, F.W. Former President and CEO of Bed Bath & Beyond. During a recent earnings call, Bed Bath & Beyond CEO Mark Tritton discussed how the company adjusted its coupon strategy during COVID-19. [15], The company, which had for decades used coupon mailers and other promotional discounting tactics to attract consumers, announced in April 2019 that it would reduce its use of promotional coupons and tighten restrictions on their use. Access your favorite topics in a personalized feed while you're on the go. Bed Bath & Beyond Inc. and subsidiaries (the 'Company') is an omnichannel retailer that makes it easy for its customers to feel at home. Who is Shemar Moores wife? The 30-year retail veteran previously was executive VP at Nordstrom and president of Nordstrom Product Group. For the Will & Grace episode, see, efforts to overturn the 2020 presidential election, "Bed Bath & Beyond Inc. Appoints Sue Gove President & Chief Executive Officer", "Bed Bath & Beyond Inc. Fiscal 2022 Annual Report (Form 10-K)", "Bed Bath & Beyond on the Forbes Global 2000 List", "The rise and fall of Bed Bath & Beyond, one of America's most iconic big box retailers", "Business & Company Resource Center2003381Business & Company Resource Center. A man who died after falling from a building in Manhattan was identified by police as Gustavo Arnal. The estimated Net Worth of Mark J Tritton is at least $15.4 Million dollars as of 26 August 2019. In the first quarter of 2022, Bed Bath & Beyond's net loss widened to $358 million, or $4.49 per share, from $51 million, or 48 cents per share, a year ago.On an adjusted basis, the company's . Search instead in Creative? Bed Bath & Beyond sales cratered 27% and BBBYs previous rising star, BuyBuy Baby, dropped in mid-single digits. On October 26, 2022, Bed Bath & Beyond Inc. announced Sue Gove was voted unanimously by the board of directors and would remain as the CEO. Jerry Holt / jerry.Holt@Startribune.com(Photo By Jerry Holt/Star Tribune via Getty Images), Italist Finding Success In The International Luxury Ecommerce Marketplace, Macys 2022 Year Sales And Earnings Results Reflect Tight Control, Macys Stock Rises Off The Back Of Tighter Stock Control, Free Should Be A 2023 Retail Trend. Additionally, the Company is a partner in a joint venture which operates retail stores in Mexico under the name Bed Bath & Beyond. read more Cara Sylvester Executive Vice President and Chief Guest Experience Officer* 1 | - Share BrainTrust Jeff Sward Founding Partner, Merchandising Metrics 3 years 2 months ago Clarity probably the most important thing the new CEO can provide. Tritton, who joined the retailer from Target, had blamed the company's struggles on supply chain snarls that have limited the amount of merchandise it has to sell. Bed Bath & Beyond ( BBBY) - Get Free Report took a sharp tumble on June 29 after reporting disastrous earnings and announcing that its CEO, Mark Tritton, had been . In their interim positions, Hennington will supervise the merchandising planning and capabilities teams, while Sando will oversee owned-brand sourcing, design and brand management, according to Target. But Trittons ambitious three-year transformation plan hasnt born fruit over the course of its first year and a half. as well as other partner offers and accept our. There are 1 executives at Bed, Bath & Beyond getting paid more, with MarkTritton having the highest compensation of $13,764,400. Portrait of Mark Tritton, Target's new chief merchandising officer Thursday at Target August 25, [+] 2016 in Minneapolis, MN.] Bed Bath & Beyond and Arnal's family members did not immediately respond to Insider's request for comment. Along with the entire Target team, I wish him the best, Cornell said in a statement. The estimated Net Worth of Mark J Tritton is at least $15.4 Million dollars as of 26 August 2019. Mr. Tritton has over 30 years of experience in the retail industry, including most recently as Executive Vice President and Chief Merchandising Officer at Target Corporation, where he was instrumental in transforming the omni-channel shopping experience. The National Suicide Prevention Lifeline is a hotline for individuals in crisis or for those looking to help someone else. The company ended fiscal 2020 short 144 stores leaving a total fleet of 1,020 stores, including 834 BBB, 132 BuybuyBaby and 54 Harmon Health and Beauty stores, and with sales of $9.2 billion, down from $11.2 billion in fiscal 2019. Mark Tritton moves from Nordstrom to Target to help refresh its mojo. Lines and paragraphs break automatically. However, to do that he needs a strong and reliable team around him. All rights reserved. Add a bio, trivia, and more. Russia's war on Ukraine latest: Putin casts war as battle for nation's survival, India FM Jaishankar says Soros dangerous, debate needed on democracy, Buffett's Berkshire profit falls on investments, currencies, Bill Gates buys Heineken stake, despite saying he's 'not a big beer drinker', Elon Musk recruits team to develop OpenAI rival - The Information, Hedge fund manager Chris Hohn demands Airbus drop Atos deal - letter, Elon Musk's challenge: Stay ahead of the competition, ISS urges Apple shareholders to vote for CEO Tim Cook, other execs' pay packages, Elon Musk accuses media of racism after newspapers drop 'Dilbert' cartoon, French media billionaire Niel fails with bid for TNT television frequence - Arcom. Mark Tritton, who has been ousted as Bed Bath & Beyond's chief executive officer after less than three years, faced a hugely challenging set of circumstances at the struggling home retailer,. In addition, he makes $13,764,400 as President, Chief Executive Officer, and Director at Bed, Bath & Beyond. Keep in mind, Mark Tritton was the merchandising whiz at Target before he joined Bed Bath & Beyond on November 4, 2019. Your email address will not be published. Over the past 16 years, Mr Tritton has sold BBBY stock worth over $1,575,000 while owning over 15,000 units of Bed, Bath & Beyond stock valued at over $ 75,000. Despite this misstep, among others like scaling back its popular 20% off coupons for a time, perhaps the company pulled the plug on Tritton and his company transformation plan too soon. Mark Tritton is out after three years at Bed Bath and Beyond Tritton's departure was "inevitable" and that the earnings report "does very little to inspire confidence in the company's. Mark J. Tritton serves as President, Chief Executive Officer, Director of the Company. [24], In July 2022, FCM BBBY Holdings, LLC, managed by Jake Freeman, also sent an open letter, as part of a Schedule 13G filing, asking the board of directors to consider their proposed plan to reduce Bed Bath & Beyond's debt and improve liquidity through a convertible bond issuance. [37] On January 27, it was revealed that the company would be permanently closing all of its 52 Harmon brand stores in an attempt to conserve cash. Arnal had held a senior position at Walgreens Boots Alliance and Procter & Gamble before joining the cosmetics company. "The company has voluntarily provided company contact details and is considered to be responsive to customer complaints. Mark J. Tritton Independent Director. Chair of the COMPENSATION, PEOPLE and CULTURE COMMITTEE ; Member of the CORPORATE GOVERNANCE AND NOMINATING COMMITTEE; He swiftly cleaned house, bringing in a new. His brother was Percy Kingsnorth Tritton (1878-1903). He started working as a national buyer for Myer, Grace Bros, and other department stores at Coles Myer in 1986. Bed Bath & Beyond CEO Mark Tritton will be replaced by independent board director Sue Gove on an interim basis. The most active insiders traders include Leonard Feinstein, Warren Eisenberg, and Dean S Adler. Reporting results for June through August 2021, revenues were down 26% from previous year same store sales off 1% as store traffic slowed significantly, Tritton said at the time. By 2011, Bed Bath & Beyond had 1,142 stores. Late in 2020, Tritton wanted to give the program a kick and initiated an aggressive membership drive that brought in nearly half a million new Beyond+ members. However, it was small consolation with total revenues down 15% from $9.2 billion previous year to $7.9 billion in fiscal 2021 ending February 2022. Bed Bath & Beyond CEO Mark Tritton (Thirty Minute Mentors) See all courses Tritton will need all of those skills in his new role at BBB. dolan funeral home obituaries; beaver country day admissions; how long does lemon balm stay in your system; marlin 1894 tactical stock; brian henderson jr obituary; pasteurized milk ordinance 2021. kevin gates moroccan father Mark Tritton is out after three years at Bed Bath and Beyond Tritton's departure was "inevitable" and that the earnings report "does very little to inspire confidence in the company's. - Cost of revenue down. When Mark Tritton took the helm of Bed Bath & Beyond Inc. in 2019, he moved quickly to overhaul the home-goods chain by cleaning up crowded aisles, scaling back coupons and doing away with. Rob Tannenbaum. Bed Bath & Beyond and Arnal's family members did not immediately respond to Insider's request for comment. In his past career he occupied the position of President, Chief Executive Officer & Director at Bed Bath & Beyond, Inc., General Manager-Europe, Middle East & Africa at NIKE, Inc., Chief Merchandising Officer & Executive VP at Target Corp., Vice President-Global Casual & Gear Footwear at Timberland LLC and Executive Vice President & Division While the companys board and stockholders were looking for a quick fix, its customer base wasnt necessarily clamoring for the many changes theyve seen and have yet been able to process. October 2, 2019. Reporting on retail visitor metrics, Ethan Chernofsky, vice president of Placer.ai, said, Bed Bath & Beyond visits are certainly down, but the picture is more complex, adding that there are early signs the companys right sizing efforts are showing results. This documentary-style series follows investigative journalists as they uncover the truth. I am a third-year undergraduate student at the University of Waterloo studying chemistry in a cooperative program. In addition to Target, this includes Nordstrom, Inc., Timberland LLC and Nike, Inc. he holds ?Bachelor of Education in English and History, University of Sydney, Australia. Expect more private brands, expect a more tailored assortment, expect to not . (Photo by Michael M. Santiago/Getty Images), Italist Finding Success In The International Luxury Ecommerce Marketplace, Macys 2022 Year Sales And Earnings Results Reflect Tight Control, Macys Stock Rises Off The Back Of Tighter Stock Control, Free Should Be A 2023 Retail Trend. Kroger and Albertsons merger: What lies ahead? There are 12 older and 14 younger executives at Bed, Bath & Beyond. Bed Bath & Beyond Inc. is an American chain of domestic merchandise retail stores. It adds up to a huge turnaround Tritton will be asked to manage. Mark Tritton Biography It looks like we don't have any Biography for Mark Tritton yet. In addition, he makes $13,764,400 as President, Chief Executive Officer und Director at Bed, Bath . The chain said Wednesday, June 29, 2022, that board member Sue Gove will serve as interim CEO, replacing Mark Tritton. Obviously, COVID led to one awful quarter that skewed the rest of the year, but Tritton is already showing results. Mark J. Tritton is on the board of Nordstrom, Inc. This, however, marks his first time as CEO of a retailing corporation. A case in point is its evolving loyalty program. Registered in England and Wales. Just a year ago, people still believed in newly-appointed CEO Mark Trittons ambitious transformation plan that was announced in October 2020. Opinions expressed by Forbes Contributors are their own. On the supply side, he has spent time with Nike and Timberland. The company opened 2023 by warning to investors that it may not survive the year. Bed Bath & Beyond was struggling before COVID-19 and named Mark Tritton CEO in October 2019 to turn the company around. Its been a tumultuous two and a half years for the company, its stockholders and most especially its customers, whove not yet had time to adjust to the many changes their once dependable Bed Bath & Beyond stores gave. Supply chain snafus took much of the blame for underperformance. There are 12 older and 14 younger executives at Bed, Bath & Beyond. ", "Bed Bath & Beyond Overhauls Board Amid Activist Pressure", "Bed Bath & Beyond CEO Steven Temares steps down 'immediately' and resigns from board", "Bed Bath & Beyond Chief Executive Steps Down", "Bed Bath & Beyond's new CEO just laid off nearly his entire C-Suite", "Your love of Bed Bath & Beyond coupons could be killing the retailer", "Bed Bath & Beyond announces plans to permanently close 200 stores over next two years", "My Pillow Shunned by Retailers After CEO Touts Election Fraud", "MyPillow CEO says Bed Bath & Beyond, Kohl's, Wayfair are dropping his products", "Activist Letter Sends Bed Bath & Beyond Stock Soaring", "Bed Bath & Beyond shares rise after retailer strikes deal with activist investor Ryan Cohen", "Bed Bath & Beyond Inc. So rather than counting Bed Bath & Beyond out, as its recent press coverage suggests, like this headline from Wall Street Journal, Bed Bath & Beyond the point of no return? the company and its customers may just need a little more time to adapt to the changes. Smith joined Target as CFO in 2015 from pharmacy benefits manager Express Scripts, where she also was CFO. Union, New Jersey. Mark J Tritton's largest sale order was 7,900 units, worth over $484.98K on December 9, 2013. The company estimated it lost $100 million in sales in November due to lack of inventory and another $175 million in December through February 2022. Foot traffic, a key performance indicator for every retailer, tells much the same story. Mark Tritton - Credit: Rob Tannenbaum. The oldest executive at Bed, Bath & Beyond Inc. is Andrea Weiss, 65, who is the Independent Director. Announces Executive Leadership Changes", "Bed, Bath & Beyond Will Close 150 Stores: See Which Stores Have Already Shut Doors", "Bed Bath & Beyond announces store closures, layoffs and new financing in push to fix struggling business", "Bed Bath & Beyond CFO accused of "pump and dump" scheme before falling to his death from NYC skyscraper", "Death of Bed Bath & Beyond CFO ruled a suicide", "Inside Bed Bath & Beyond, Concerns Over Mounting Stress for CFO", "Bed Bath & Beyond stock hits 52-week low, considers bankruptcy - The Global Herald", "Bed Bath and Beyond says it may not survive | CNN Business", "Bed Bath & Beyond bankruptcy might be next, retailer warns", "Bed Bath & Beyond could file for bankruptcy 'as early as this weekend': MACCO CEO", "Bed Bath Beyond Probability Of Bankruptcy 2023 | BBBY", "Bed Bath & Beyond taps new restructuring adviser as bankruptcy looms", "Bed Bath & Beyond Says Banks Have Cut Off Its Credit Lines", "Bed Bath & Beyond makes desperate move while teetering toward bankruptcy", "Bed Bath & Beyond to wind down Canada operations", "Bed Bath & Beyond Inc. Tritton in the 1950s and '60s as Brisbane's largest furniture store, in George Street, and their advertisements were carried on the the city's tram tickets. Bed Bath & Beyond's CEO is out of the top post as the home goods retailer looks to fix declining . It is also expected to pare down its roster of store banners, a process that is believed to be well under way already. [19] The announcement came in the wake of the January 6 United States Capitol attack and MyPillow CEO Mike Lindell's efforts to overturn the 2020 presidential election, and amidst similar announcements by Kohl's and Wayfair. The Untold Truth Of Jesse Watters' Girlfriend - Em What happened to Horny Mike on 'Counting Cars'? But in the meantime, investors seem to like what they have seen so far. Tritton (left) joined Target as executive vice president and chief merchandising officer in June 2016. By 1985, Eisenberg and Feinstein were operating 17 stores in the New York metropolitan area and California. Also in 1985, the first superstore was opened, as an attempt to remain competitive with Linens 'n Things, Pacific Linen, and Luxury Linens. In total, Mark Tritton has made about 8 transactions over 3 years of their time at Target Corp. . - Paying off debt. As of 2022, Mark J Tritton's net worth is more than $15 million. Previously, Tritton was a member of the band Bed Bath and Beyond. [6] In 1971, they opened a store in Springfield, New Jersey, called Bed 'n Bath. Bed Bath & Beyond Inc. and subsidiaries (the 'Company') is an omnichannel retailer that makes it easy for its customers to feel at home. Board member Sue Gove will step in as interim CEO, and its Harmon general manager Mara Sirhal will take over Hartsigs duties as she continues to lead Harmon. Additionally, the Company is a partner in a joint venture which operates retail stores in Mexico under the name Bed Bath & Beyond. In addition, two more banners were sold off One Kings Lane and Christmas Tree Shops and Cost Plus World Market followed in January 2021, before the close of fiscal 2020. Then Covid hit, leading to store closures and employee furloughs. Since the liquidation of Linens 'n Things in 2008, Bed Bath and Beyond has had several major retail competitors, including Walmart, Target, and JCPenney. On average, Bed, Bath & Beyond executives and independent directors trade stock every 35 days with the average trade being worth of $217,679. Australian by birth, Tritton has spent much of his 30-year career on the retail side of the trade, with stints at Nordstrom and the Australian retailer Palmer Group. Jerry Holt / jerry.Holt@Startribune.com(Photo By Jerry Holt/Star Tribune via Getty Images). Hennington, who joined Target in 2003, oversees merchandising of essentials, beauty, hardlines and services. Tritton exits the company with little to show for his efforts, other than 50 remodeled BBB stores and a selection of private-label brands that were late on arrival due to supply-chain issues. FLOW2 There are no executives at Bed, Bath & Beyond getting paid more. [4][5], Warren Eisenberg and Leonard Feinstein worked in management positions at discount store chain Arlan's. But two and a half years in, Tritton failed to deliver, and during the latest earnings call, the company announced Trittons departure, along with chief merchandising officer Joe Hartsig. His rsum suggests he could be the right person for the job. That strategy was repudiated on Wednesday after the company reported another quarter of . At Union, N.J.-based Bed Bath & Beyond, Tritton takes over from Mary Winston, who has served as interim CEO since May 12 when chief executive Steven Temares stepped down. He started his career as a national buyer, Myer, grace Bros department stores at Coles Myer in 1986. His focus on developing the next generation of leadership, establishing a comprehensive merchandising strategy and re-energizing our owned-brand portfolio are among his most meaningful contributions. "Bloomberg Opinion" columnists offer their opinions on issues in the news. BAC It is likely to be one of many changes Tritton will make once he gets settled in. To combat declining profitability, Bed Bath & Beyond also announced it was creating private-label brands and opening "lab stores" that focused on home decor, food and drink, and health and beauty products. [citation needed], "Bed, Bath & Beyond" redirects here. Mark Tritton is 59 years old and was born on 08/01/1963. Over the last 20 years, insiders at Bed, Bath & Beyond have traded over $576,038,975 worth of Bed, Bath & Beyond stock and bought 320,713 units worth $6,001,888 The company adopted integrated computer-based inventory management systems in 1993 to better compete with Linens n Things, which had utilized computer inventory management since the late 1980s. [3], Bed Bath & Beyond was founded in 1971. The Company sells a wide assortment of merchandise in the Home, Baby, Beauty and Wellness markets. MARK TRITTON: You know, I think it's about the customer experience and the customer journey of who we want to be and what is the easy evolution of the business. When he reports to work on the first Monday of November, he will no doubt focus first on assembling the team he will need to lead the companys turnaround. Last year during the crucial. The most recent stock trade was executed by Gustavo Arnal on 16 August 2022, trading 55,013 units of BBBY stock currently worth $1,403,932. The company did not respond to a request for comment. After concluding an extensive global search, it's clear that Michael is the right leader for this role, Cornell commented. Mr. [9] Bed Bath & Beyond first reached $1 billion in annual sales in 1999. Mary Winston, who had been appointed to the company's board as a result of the activist investment firms' efforts, replaced Temares as interim CEO. Due to various issues, fewer coupons and circulars were. Mark Tritton is a talented retailer and he has an opportunity to change the trajectory. Trittons first year with the company was capped by announcing a three-year transformation plan in November 2020. just got battered by Wall Street, with shares dropping from a little over $33 a year ago to under $5 after its Wednesday earnings call. You can see the complete history of Mr. Tritton stock trades at the bottom of the page. As the company suffered financial difficulties, and the two believed that the market would shift toward specialty stores, they decided to leave and form their own company. Last month, Arnal sold about 42,000 shares in the retailer for about $1 million, according to MarketBeat.com. Celebrities Mark Tritton Net Worth Mark Tritton Net Worth 2023, Age, Height, Relationships, Married, Dating, Family, Wiki Biography estimated foot traffic to BBB stores was down as much as 30%, according to CNN. - Racking up Cash. As the pandemic started to lose its grip later in 2020, more employees were laid off and executive leaders hired. Tritton. Executive Vice President and Chief Merchandising O There are 12 older and 14 younger executives at Bed, Bath & Beyond. Executive Vice President and Chief Stores Officer Mark Schindele is executive vice president and chief stores officer for Target and a member of its leadership team. Supermarket News is part of the Informa Connect Division of Informa PLC. Be the first to contribute! His earnings call also showed guidance and a vision for the . The most active insiders traders include Leonard Feinstein, Warren Eisenberg, and Dean S Adler. I remember F.W. As the Pres and CEO & Director of Bed, Bath & Beyond, the total compensation of Mr Tritton at Bed, Bath & Beyond is $5,995,118. [8], The company went public in June 1992, making its IPO on the NASDAQ stock exchange, where its stock continues to trade under ticker symbol BBBY. Tritton is slated to start at Bed Bath & Beyond as CEO, and as a board member, effective Nov. 4. According to court documents, the business does not have the "capacity or ability to independently effect a recapitalization or restructuring of the Canadian operations without access to cash and the support".[39]. We know that Mark's political affiliation is unknown; ethnicity is Caucasian; and religious views are listed as Christian. Just Ask Publix, Chick-Fil-A And Nordstrom, Kohls Reports Unfavorable Year-End 2022 Results, What Brands Need To Know: Social Marketing In 2023, New CEO Says Kohls Doesnt Need Total Overhaul. Investors May Disagree, What Dicks Can Do With Moosejaw That Walmart Didnt. [23], On June 29, 2022, significant changes to executive leadership were announced by Bed Bath & Beyond Inc. Mark Tritton left his role as president and chief executive officer and as a member of the Board, and was replaced by Sue Gove. Mr. Mark J. Tritton is Executive Vice President and Chief Merchandising Officer of the Company. Mark's relationship status . Gustavo Arnal, 52, fell from the 18th floor of the tower on Leonard Street in Manhattan's tony Tribeca neighborhood around noon Friday, the New York Police Department confirmed to Insider. Taking over his role at Target on an interim basis will be Christina Hennington and Jill Sando, who both currently serve as senior vice presidents and general merchandising managers. (AP Photo/Paul Sakuma, File) FILE - In this May 9, 2012 file photo, a Bed Bath & Beyond sign is shown in Mountain View, Calif. The Bed Bath & Beyond CFO fell from the 18th floor on Friday, the NYPD confirmed to Insider. Mark's mailing address filed with the SEC is C/O BED BATH & BEYOND INC., 650 LIBERTY AVENUE, UNION, NJ, 07083. The largest trade he's ever made was selling 15,000 units of Bed, Bath & Beyond stock on 26 August 2019 worth over $1,575,000. As interim leaders of Targets merchandising organization, Hennington and Sando will report directly to Target Chairman and CEO Brian Cornell. Bank of America To help with the CFO transition, she will begin serving as a strategic adviser on Nov. 1 and continue in that role until May 1, 2020, Target said. how did mark madryga son pass away; les promesses de dieu ne failliront jamais; how to tell a male from a female dragonfly. [7], By 1991, Bed Bath & Beyond had opened seven new superstores in New Jersey, California, Virginia, Illinois, Maryland, and Florida.
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