Rod Little Joins Victoria’s Secret and Co. Board of Directors
August 29 2023 - 6:30PM
Victoria’s Secret & Co. (“Victoria’s Secret” or the “Company”)
(NYSE: VSCO) announced today that Rod Little has been appointed to
its Board.
Mr. Little is a transformational leader in the consumer products
industry. He currently serves as Chief Executive Officer of
Edgewell Personal Care where he is leading the business to become a
more agile and modern consumer products company with a focus on
technology and innovation.
Donna James, Chair of the Board, said, “We are honored to
welcome Rod to the VS&Co Board of Directors. His decades of
financial, global consumer goods and public company experience will
benefit VS&Co as we continue to advance the Company’s strategy
and deliver value to Victoria’s Secret shareholders. We look
forward to Rod’s insight and expertise as we progress in our
VS&Co transformation journey.”
Mr. Little said, “I’m impressed with the positive transformation
of the brand over the last several years and am energized by
VS&Co’s strategy to accelerate profitable growth. I’m honored
to join this accomplished board at a time when there is so much
potential for the company and I look forward to lending my
expertise to advance the work already underway.”
The Victoria’s Secret Board now comprises nine directors, eight
of whom are independent and seven of whom are women.About
Rod LittleMr. Little is Chief Executive Officer of
Edgewell Personal Care, a multinational consumer products company.
Prior to serving as CEO of Edgewell, Mr. Little was the company’s
CFO and before that was with HSN, Inc. where he accelerated growth
and margin expansion of a highly profitable business. Earlier in
his career, Mr. Little was Executive Vice President and CFO of
Elizabeth Arden and spent 16 years at Procter & Gamble.
Mr. Little served in the United States Air Force for five years
and serves on the Air Force Academy Foundation’s Board of
Directors. He earned a Master of Business Administration in Finance
from the University of Pittsburgh, and a Bachelor of Science in
Management from the United States Air Force Academy.
Safe Harbor Statement Under the Private Securities
Litigation Reform Act of 1995We caution that any
forward-looking statements (as such term is defined in the U.S.
Private Securities Litigation Reform Act of 1995) contained in this
press release or made by us, our management, or our spokespeople
involve risks and uncertainties and are subject to change based on
various factors, many of which are beyond our control. Accordingly,
our future performance and financial results may differ materially
from those expressed or implied in any such forward-looking
statements. Forward-looking statements include, without limitation,
statements regarding our future operating results, the
implementation and impact of our strategic plans, and our ability
to meet environmental, social, and governance goals. Words such as
“estimate,” “commit,” “target,” “goal,” “project,” “plan,”
“believe,” “seek,” “strive,” “expect,” “anticipate,” “intend,”
“potential” and any similar expressions may identify
forward-looking statements. Risks associated with the following
factors, among others, could affect our financial performance and
cause actual results to differ materially from those expressed or
implied in any forward-looking statements:
- the spin-off from Bath & Body Works, Inc. (f/k/a L Brands,
Inc.) may not be tax-free for U.S. federal income tax
purposes;
- we may not realize all of the expected benefits of the
spin-off;
- general economic conditions, inflation, consumer confidence,
consumer spending patterns and market disruptions including
pandemics or significant health hazards, severe weather conditions,
natural disasters, terrorist activities, financial crises,
political crises or other major events, or the prospect of these
events;
- the novel coronavirus (COVID-19) global pandemic has had and
may continue to have an adverse effect on our business and results
of operations;
- difficulties arising from turnover in company leadership or
other key positions;
- our ability to attract, develop and retain qualified associates
and manage labor-related costs;
- our dependence on mall traffic and the availability of suitable
store locations on appropriate terms;
- our ability to successfully operate and expand internationally
and related risks;
- our independent franchise, license, wholesale and joint venture
partners;
- our direct channel business;
- our ability to protect our reputation and the image of our
brands;
- our ability to attract customers with marketing, advertising
and promotional programs;
- the highly competitive nature of the retail industry and the
segments in which we operate;
- consumer acceptance of our products and our ability to manage
the life cycle of our brands, keep up with fashion trends, develop
new merchandise and launch new product lines successfully;
- our ability to realize the potential benefits and synergies
sought with the acquisition of AdoreMe, Inc.;
- our ability to source, distribute and sell goods and materials
on a global basis, including risks related to:
- political instability, environmental hazards or natural
disasters;
- significant health hazards or pandemics;
- legal and regulatory matters;
- delays or disruptions in shipping and transportation and
related pricing impacts; and
- disruption due to labor disputes;
- our geographic concentration of vendor and distribution
facilities in central Ohio and Southeast Asia;
- the ability of our vendors to deliver products in a timely
manner, meet quality standards and comply with applicable laws and
regulations;
- fluctuations in freight, product input and energy costs,
including those caused by inflation;
- our and our third-party service providers’ ability to implement
and maintain information technology systems and to protect
associated data and system availability;
- our ability to maintain the security of customer, associate,
third-party and company information;
- stock price volatility;
- shareholder activism matters;
- our ability to maintain our credit rating;
- our ability to comply with regulatory requirements; and
- legal, tax, trade and other regulatory matters.
Except as may be required by law, we assume no obligation and do
not intend to make publicly available any update or other revisions
to any of the forward-looking statements contained in this press
release to reflect circumstances existing after the date of this
press release or to reflect the occurrence of future events, even
if experience or future events make it clear that any expected
results expressed or implied by those forward-looking statements
will not be realized. Additional information regarding these and
other factors can be found in “Item 1A. Risk Factors” in our Annual
Report on Form 10-K filed with the Securities and Exchange
Commission on March 17, 2023.
About Victoria’s SecretVictoria's
Secret & Co. (NYSE: VSCO) is a specialty
retailer of modern, fashion-inspired collections including
signature bras, panties, lingerie, casual sleepwear, athleisure and
swim, as well as award- winning prestige fragrances and body care.
VS&Co is comprised of market leading brands, Victoria's
Secret and Victoria's Secret PINK, that share a common purpose
of inspiring and uplifting our customers in every stage of their
lives, and Adore Me, a technology-led, digital-first innovative
intimates brand serving women of all sizes and budgets at all
phases of life. We are committed to empowering our more than 30,000
associates across a global footprint of approximately 1,350 retail
stores in approximately 70 countries. We provide our customers with
products and experiences that make them feel good inside and out
while driving positive change through the power of our products,
platform and advocacy.
For further information, please contact:
Victoria’s Secret &
Co.: |
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Investor
Relations: |
Media
Relations: |
Kevin Wynk |
Brooke Wilson |
investorrelations@victoria.com |
communications@victoria.com |
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