Victoria's Secret names new CEO

Victoria’s Secret parent company L Brands has named Martin Waters the brand's CEO. Waters will step into his role effective immediately. Waters will report to Stuart Burgdoerfer, interim CEO of Victoria’s Secret and CFO of L Brands. In Addition, Laura Miller has been named chief human resources officer of Victoria’s Secret, Becky Behringer has been promoted to executive vice president of North America store sales and operations, and Janie Schaffer has been named chief design officer of Victoria’s Secret Lingerie.

“The board and I are thrilled by the appointments of these talented leaders with demonstrated records of execution,” said Sarah Nash, chair of L Brands’ board of directors, in a statement. “Martin Waters is an experienced retail executive who has led our international business for the past 12 years. He is an exceptional leader and is widely respected both within and outside of our business.”

New CEO at Victoria’s Secret

Nash continued: “Laura brings a wealth of experience and knowledge to the role of CHRO, combined with a passion for helping people reach their full potential. Becky’s deep knowledge of our stores organization and the customer will help us deliver success as we approach the holiday season and beyond. Janie is a proven leader with a record of creating and re-positioning brands and growing profitable sales across international markets.”

Nash added: “With their collective expertise and working together alongside the entire leadership team at Victoria’s Secret, we will continue to drive the business forward and reposition it for success. We thank John for his contributions to the brand during his tenure.”

Waters joined L Brands in 2008 as head of the international division. Under Waters’ leadership, international business expanded from the early phases of incubation to more than 700 stores globally. Prior to his role with L Brands, Waters was managing director for Boots International, Europe’s leading health and beauty retailer. Waters also has significant experience in strategic planning, merchandising, planning and allocation, brand management, marketing and supply chain operations.

Victoria’s Secret has been struggling over the past several years as it has lost ground to other lingerie retailers. Waters will be expected to engineer a turnaround for the brand. L Brands has been carried by Bath & Body Works, which has become the major brand in their portfolio.

Photo credit: Victoria’s Secret Press Room