© Reuters. FILE PHOTO: Shoppers wait in line outside a Bath and Body Works retail store in Brooklyn, New York, U.S., December 8, 2020. REUTERS/Brendan McDermid
By Svea Herbst-Bayliss
NEW YORK (Reuters) – Bath & Body Works named a veteran consumer products executive as a new director on Monday as the specialty retailer faces pressure from hedge fund Third Point LLC to cut costs and refresh its board.
Lucy Brady, a senior executive at Conagra Brands (NYSE:), expands the board to 11 from 10 members. She had spearheaded digital consumer engagement at McDonald’s Corp (NYSE:) and led the global consumer practice at The Boston Consulting Group.
Bath & Body Works Chair Sarah Nash said Brady would bring “expertise in global digital strategy and customer loyalty and engagement.”
The appointment comes weeks after Third Point, which owns a 6% stake in the company, hinted that it might push for board seats. Last week, Third Point founder Daniel Loeb told his fund investors in a letter seen by Reuters that he was closely watching the company and its new chief executive.
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