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Bath & Body Works CEO Meslow to step down -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Customers wait outside Bath and Body Works stores as the global coronavirus outbreak (COVID-19), persists in Brooklyn, New York. It happened on December 8, 2020. REUTERS/Brendan McDermid

(Reuters) – Bath & Body Works Inc said on Wednesday Chief Executive Officer Andrew Meslow would step down in May due to health reasons, less than a year after the maker of home and body fragrances became an independent public company.

Meslow, who had held several positions within the company for nearly 20 years, took the reigns of L Brands Inc in 2020 from Leslie Wexner. L Brands (NYSE:) split itself last year into two firms Bath & Body Works and Victoria’s Secret.

Bath & Body Works has appointed Chair Sarah Nash as its interim CEO and plans on identifying a permanent replacement.

Nash is a veteran of investment banking and was the boss at Novagard Solutions’ thermal management product maker Novagard Solutions. He has been appointed executive chair.

Bath & Body Works has been among the biggest pandemic winners thanks to demand for its sanitizers, scented candles and air fresheners from people spending more time at home due to the rise of remote working.

In the 12 months ended January 29, its net sales rose 22%

The company shares dropped 5% on Wednesday in extended trading after its projection of earnings for fiscal 2022 that was below Wall Street’s estimates.

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