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UNITED STATES (AP) — Victoria’s Secret has made a shake-up at the top, naming Savage X Fenty’s Hillary Super as its new chief executive.
Super will take over from Martin Waters, who became Victoria’s Secret CEO in 2021, effective September 9. He will serve as an advisor until the end of the month to assist with the transition process, while Chief Financial Officer Timothy Johnson will serve as interim CEO.
In 2021, Victoria’s Secret’s sale of the lingerie, sleepwear, beauty and apparel company to private equity firm Sycamore Partners fell apart due to the coronavirus pandemic, and the company announced plans to separate it from its parent company, L Brands.
The chain was facing slowing sales and working to reinvent the way it operated and redesign its stores. Super served as CEO of Savage Secret to better serve this valuable demographic.
Shares were up more than 14% before the opening bell.
Prior to joining Savage X Fenty, Super served as Global CEO of Anthropologie Group, the Urban Outfitters company.
Victoria’s Secret Chairman Donna James said in a statement Wednesday that Super will be responsible for accelerating growth in the company’s core business in North America.
“She understands vertically integrated retail brands and intuitively understands the consumer landscape through customer insights that are critical to the continued delivery of the industry and its accelerating fashion and economic cycles,” James said.
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