L Brands reveals CFOs for standalone businesses
According to L Brands, its plan to separate Bath and Body Works and Victoria’s Secret into standalone publicly-listed companies “remains on track” to be completed in August 2021
L Brands has revealed the two new CFOs for its standalone Bath and Body Works and Victoria’s Secret businesses.
Wendy Arlin, currently SVP of finance and controller for L Brands, will become Bath and Body Works CFO.
Arlin joined L Brands in 2005 and has “established, led, and maintained” a strong finance and accounting organisation. Prior to joining the company, she was an audit partner with KPMG.
Meanwhile, Tim Johnson, previously CFO and chief administrative officer for Big Lots, will become Victoria’s Secret CFO.
He brings seven years of experience as a public company CFO, along with “broad experience” in strategic planning, financial planning and analysis, reporting, accounting, tax and investor relations, as well as risk management, asset protection and security and distribution centers.
According to L Brands, its plan to separate Bath and Body Works and Victoria’s Secret into standalone publicly-listed companies “remains on track” to be completed in August 2021.
Sarah Nash, chair of L Brands board, said: “We are pleased to announce the appointment of two proven and talented individuals with strong public company expertise to the CFO roles of each standalone business.
“Wendy is an exceptional and skillful leader who knows our business well and has made significant contributions to the company, having worked closely with the board, Stuart and other senior leaders during her 16 years at L Brands.”
She added: “Tim is an experienced public company CFO with extensive knowledge of the retail industry in addition to having previously spent over eight years with L Brands early in his career. We are confident that Wendy and Tim are the right leaders to help each business deliver profitable growth and enhanced value to our stakeholders.”