L Brands, Inc. (LB) said Thursday that Stuart Burgdoerfer has informed the Board of Directors of his desire to retire as CFO of L Brands and Interim CEO of the Victoria's Secret business. L Brands has promoted Martin Waters, currently CEO of Victoria's Secret Lingerie, to CEO of the Victoria's Secret business and will assume those responsibilities effective immediately. Waters will report to Andrew Meslow, CEO of L Brands. Burgdoerfer will remain in his CFO role through August 2021. The company has initiated a search for Burgdoerfer's successor as CFO, which will include both internal and external candidates.
L Brands said its Board and management remain committed to separating the Victoria's Secret and Bath & Body Works businesses.
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