Corporate GovernanceMay 5, 2026, 08:37 AM
Victoria's Secret Board Rejects Blundy's Directorship, Defends Strategy
AI Summary
Victoria's Secret & Co. Board of Directors is responding to a proxy contest launched by BBRC International and its Chairman Brett Blundy, who seeks to withhold votes against two directors at the upcoming 2026 Annual Meeting. The Board rejected Blundy's candidacy for a directorship due to significant reputational, legal, conflict of interest, and governance risks. The company highlights its
Key Highlights
- Victoria's Secret Board rejected Brett Blundy's directorship due to reputational, legal, conflict of interest, and governance risks.
- Company delivered 164% total shareholder returns since CEO Hillary Super's appointment in late 2024.
- Outperformed S&P 500 Consumer Discretionary Distribution Retail Index by 124%.
- Outperformed research analyst peers by 172%.
- Board met 35 times across the past three fiscal years.
- Short-term shareholder rights plan, adopted in response to BBRC, expires May 18, 2026.