Victoria's Secret CEO steps down
Victoria’s Secret brand CEO Amy Hauk is set to step down, according to a filing with the Securities and Exchange Commission on Tuesday.
Effective on March 31, the move comes just eight months since taking on the role at the lingerie giant. In the interim, longtime executive Martin Walters will continue in his role as CEO of Victoria’s Secret & Co.
Hauk joined L Brands in 2008, became CEO of the company’s Pink apparel brand in 2018 and was elevated to brand CEO at Victoria’s Secret last July. Most recently, in 2021, Victoria’s Secret was spun off from L Brands, which also owned Bath & Body Works, becoming a publicly traded company.
Victoria's Secret also said on Tuesday that it has completed the acquisition of digitally-native intimates brand Adore Me, supporting its goal to become the world’s leading retailer of intimate apparel. The move is expected to create meaningful sales and profit for the company in 2023. In 2022, Victoria's Secret also took a minority stake in U.S. swimwear brand, Frankies Bikinis.
The move is part of its efforts to revitalize the brand and update its image, after coming under attack in recent years for its non-inclusive campaigns. Most recently, the company also faced scrutiny over founder Leslie Wexner's ties to Jeffrey Epstein.
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