Bath & Body Works names new Board member in bid to appease Third Point

Bath & Body Works names new Board member in bid to appease Third Point

THE WHAT? Bath & Body Works has announced the appointment of Lucy Brady, President, Grocery & Snacks at Conagra Brands as a new independent member of its Board of Directors. With her appointment, the Board will be composed of 11 Directors, 10 independent and seven whom are members of diverse communities, female, people of color and/or LGBTQIA+.

THE DETAILS Sarah Nash, Board Chair, commented, “Lucy brings valuable consulting and executive experience with particular expertise in global digital strategy and customer loyalty and engagement. Her appointment reflects our Board’s ongoing commitment to identify new independent directors with the skills and expertise needed to deliver superior shareholder value and follows engagement with and input from our shareholders. We look forward to benefiting from Lucy’s perspectives as the Board continues to oversee the Company’s growth strategy and efforts to deepen and expand customer relationships, deliver ongoing innovation, and enhance Bath & Body Works’ omnichannel capabilities.”

THE WHY? Brady brings extensive consumer products industry experience focused on business transformation through digital and technological innovation and it is hoped that her appointment will please hedge fund Third Point, who is pushing the US retailer to refresh its board and cut costs, according to a report published by Reuters.