April 16, 2021

Latest news and Update

Latest news and Update

L Brands CFO Burgdoerfer is retiring, Waters to head Victoria’s Secret

People walk past a Victoria’s Secret store in Barcelona.

John Milner | LightRocket | Getty Images

Victoria’s Secret parent company L Brands said Thursday that Chief Financial Officer Stuart Burgdoerfer will retire and leave the company later this year.

Burgdoerfer is also serving as interim CEO of the lingerie retailer.

The company has been going through a reorganization as it tries to stabilize its flagship brand. It’s benefited from strong sales at its other retail chain, Bath & Body Works, during the pandemic, as Americans stock up on soap, hand sanitizer and candles.

The company said Martin Waters, currently CEO of Victoria’s Secret Lingerie, will now lead Victoria’s Secret business. He will step into that role immediately.

Burgdoerfer will remain in his role through August 2021.

This story is developing and will be updated.