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Victoria’s Secret Abruptly Replaces CEO of Lingerie Business
- L Brands plans to separate business from Bath & Body Works
- Lingerie chain is trying to revamp its image as sales decline
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Victoria’s Secret announced a new head of its lingerie business as the company prepares to separate from sister brand Bath & Body Works, replacing John Mehas less than two years after he took the role.
Martin Waters, who joined parent L Brands Inc. in 2008, will become chief executive officer of the lingerie operations “effective immediately,” according to a statement Wednesday. The company didn’t give a reason for the change, and Victoria’s Secret declined to comment beyond the statement.