Parington Sectoria Secret urges restructuring, dropping toxins

Acting investor Barington Capital Group calls for this Victoria’s secret To restructure its board of directors and cancel the recently approved shareholder rights plan.

James Metarotonda, CEO of the New York -based hedge fund, who owns more than 1 % of the company’s distinguished shared shares, told President Victoria’s Secret Donna James in Monday’s letter that it failed to realize its capabilities since its separation from its mother company, in brands, in 2021, with overcoming the current council “destroying a value of $ 2.4 in the value of the two tracks.”

Mitarotonda argued that the current leadership of the company, including CEO Hillary Super, lacks the strategic experience and clarity necessary to lead a successful transformation. Parington noted that Super has limited experience in the executive company and two years with a short period in intimate clothes.

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Mitarotonda also confirmed fears that Super did not gain employee confidence, and criticized its focus on re -launching secondary brands such as PINK and expanding sportswear, while not giving priority to the company’s basic work and international growth, saying it was a sign of “strategic lack of focus.”

Victoria Secret Rose shares on Monday morning after publishing the message on the investor’s website.

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Six of the nine existing board of directors sat on the blackboard during the company’s decline, and the remaining independent managers have a successful experience Expanding the scope of international consumersAccording to Barington.

“We believe that Victoria’s Secret requires a rebual council consisting of experienced managers installed in revitalizing the brand, operating implementation, international expansion, creating the value of shareholders,” he said, adding that the retail seller “should consider replacing the majority – if not everything – from the independent council who bring relevant backgrounds, and fresh bromine.” A busy record to create value”

Meanwhile, the active investor, who also has a stake in MAKY’s, said he is disappointed with the recently approved “Poison Pill” plan, describing it as counterproductive.

“It is equally disturbing, risks the established administration and the council at a time when it is necessary to change the meaning of”, continued the message. “Academic research and the experience of the real world showed that companies have weak governance structures and strong transfer provisions tend to trade with fewer assessments.”

The investor said, to help the brand “restore its feet and success”, that the company needs to focus on the categories of basic products, including bras, re -investing in digital and international markets and simplifying its operating model.

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index	protection	last	Changing	% Change
Vsco	Victoria Secret and Partners.	18.61	+0.42	+2.31 %

Brington said it had previously worked with brands L to help implement major initiatives. During its term as a consultant to its board of directors, the company’s share price increased by 221.5 %.