Victoria’s Secret rejects BBRC’s demands for board changes, citing governance concerns and media leaks, while highlighting strong performance under CEO Hillary Super.

Victoria’s Secret & Co. addressed a public letter from BBRC International and Chairman Brett Blundy, who demanded a board seat and the replacement of current Chair Donna James, citing governance concerns. The company confirmed ongoing engagement since 2022, including due diligence on Blundy’s candidacy amid conflicts, competitive risks, and past conduct issues, but criticized BBRC for releasing the letter to media before sending it to the Board. Despite the lack of response to follow-up questions, the Board reaffirmed its commitment to fiduciary duties and shareholder value, highlighting strong performance under CEO Hillary Super, including 89% total shareholder returns and outperformance of retail peers. The company remains focused on the holiday season and values constructive dialogue with all shareholders.