Victoria’s Secret Investor Slams ‘Disastrous’ Board Decisions

One of Victoria’s Secret & Co.’s biggest investors called for a board overhaul after accusing the company of “continued mismanagement” and “disastrous board-level decisions.”

BBRC International PTE Limited, which says it owns about 12.9% of Victoria’s Secret shares, sent a letter dated June 9 to the lingerie chain calling out “dismal total stockholder returns” and a “lack of accountability.” It said that “poorly timed share buybacks” and the acquisition of the Adore Me brand have “failed to generate meaningful returns.”