Victoria’s Secret Board Member to Depart Amid Dispute With BBRC

Victoria’s Secret & Co. board member Mariam Naficy won’t seek reelection amid opposition from BBRC International Pte, the investment firm of billionaire Brett Blundy.

BBRC last week called on shareholders to vote against reinstating Naficy and chair Donna James, arguing the stock has underperformed due to “ineffective oversight” by the board. It criticized Naficy’s involvement in the acquisition of the Adore Me brand, arguing it has failed to generate meaningful returns.