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Bath & Body Works Inc. announced on Wednesday, Feb. 23, that Andrew Meslow is stepping down as the company’s chief executive officer. It was noted that the executive is leaving less than a year after BBW became an independent public firm.
As per Reuters, Meslow decided to vacate his post at Bath & Body Works for health reasons which was not explained further. He started to serve as the company’s CEO in early 2020, taking over the reins from Leslie Wexner, the L Brands founder.
Prior to his assignment as the new chief, he has held several positions at Bath & Body Works throughout his almost 20 years of employment there. Meslow will also be making his exit as part of the company’s board.
To fill up the seat vacated by the outgoing CEO, Bath & Body Works appointed Sarah Nash as interim chief. Later, the company will assign a permanent replacement for the post once it has found the right candidate through its nationwide search.
Prior to her appointment, Nash was serving as BBW’s chairman is said to be a seasoned investment banking veteran. In any case, she will assume the role of interim CEO when Meslow leaves on May 12.
“It has been an honor and a privilege to lead this great company as CEO and be a part of the organization for nearly two decades,” Andrew Meslow said in a press release. “After much consideration and many discussions with my family, I have decided to step down as CEO so that I can focus on my health. As difficult as this decision was, I know I will be leaving this amazing company in highly capable hands with Sarah’s oversight, the deep and experienced bench of leadership and the most talented associates in the industry.”
Meslow went on to say, “Thanks to the hard work and dedication of a team that is second to none, Bath & Body Works has achieved incredible results. I am proud of what the Bath & Body Works team has accomplished and am confident in its bright future.”
Meanwhile, Market Watch reported that shares of Bath & Body Works slid after it was announced that Meslow is vacating his post. The shares reportedly plummet 3.2% after hours to $48.70.
