CFO | Bed, Bath & Beyond (formerly Overstock)
Adrianne Lee finds intrigue in a challenge—it’s what attracted her to a finance career and leadership positions at well-known brands like PepsiAmericas, Ecolab, Hertz and Overstock.
Lee served as SVP and CFO of the North American Rental Car unit at Hertz and gained a wealth of experience dealing with financial complexities, gaining supportive sponsorship of her goals and navigating the needs of a public company. She says everything she experienced there prepared her for her current role at Overstock (now Bed Bath & Beyond), where she manages a sizable finance team and multi-billion dollar assets.
Lee has a knack for adapting and resonating with different constituencies, from board members to operational staff. Her leadership philosophy centers on consistency, steadfastness and responsible fiscal stewardship. Under Lee’s leadership, Overstock has experienced 13 consecutive quarters of positive adjusted EBITDA.
“The profitability comes from a core foundational principle,” she says. “I believe businesses should operate to generate profits, and I believe we should have a strong balance sheet that we don’t load up with debt.”
Maintaining a healthy balance sheet, Lee says, gives companies the pocketbook to be opportunistic and make strategic moves—moves like Overstock’s acquisition of Bed Bath & Beyond this year, which she drove.
“We were one of the first companies to put ourselves out there with a pre-emptive bid,” Lee says. “It’s exactly the reason we’ve pushed our teams to be profitable … an opportunity with an iconic consumer brand synonymous with home, combined with our awesome asset-light model that spits out profits.”
The acquisition was a complex journey involving negotiations, legal proceedings, and buying IP out of bankruptcy. Lee’s unwavering commitment to the outcome and her ability to navigate the twists and turns of the process played a crucial role in its success.
Beyond her professional achievements, Lee strongly supports initiatives such as the Parity Pledge, which promotes gender and racial diversity in the workplace, because she believes diversity of thought strengthens companies. Her personal history of being underestimated and constantly having to prove herself as a woman in finance also attracts her to the cause. “We shouldn’t need to jump through hoops to prove our competencies,” she says. “I think it makes you tougher, but I hope to create an environment where we’re no longer running in circles, having to prove ourselves in an enormous way.”
Lee is passionate about her role as a mother but says she doesn’t seek “balance” because, for a working mother, balance doesn’t exist. “Prioritization” is more realistic, she says.
“You can take on great challenges, great projects, great roles and responsibilities and still be a mom, a friend, a daughter,” she says. “There’s just gives and takes. Sometimes, you’re going to have to give to the company, and some of the personal things have to go by the wayside. Then there are times when you need to prioritize home, and the company has to give a little bit.”
Connect with Adrianne on LinkedIn.
