Bath & Body Works CEO Meslow to step down

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February 23, 2022 5:24 PM EST

FILE PHOTO: Shoppers wait in line outside a Bath and Body Works retail store, as the global outbreak of the coronavirus disease (COVID-19) continues, in Brooklyn, New York, U.S., 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 in early 2020 took over the reins at then-L Brands Inc from founder Leslie Wexner after holding several positions at the company over nearly two decades. L Brands 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, an investment banking veteran and the top boss of thermal management products maker Novagard Solutions, has also been named executive chair of the company.

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.

Its net sales surged 22% in the year ended Jan. 29.

But the company's shares were down 5% in extended trading on Wednesday after it projected earnings for fiscal 2022 below Wall Street estimates.

(Reporting by Praveen Paramasivam in Bengaluru; Editing by Aditya Soni)


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