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Victoria’s Secret brand chief executive officer, Amy Hauk, is vacating her office just eight months after her appointment. It was reported that she had resigned from the company, and it was an abrupt move.
Victoria’s Secret revealed Hauk’s departure through its Tuesday’s filing (Jan. 3) with the Securities and Exchange Commission. The American lingerie and clothing manufacturing company indicated that although she has already submitted her resignation, her official exit will not take place until March 31. Hauk has been mainly managing Victoria’s Secret’s sister company, PINK, which sells clothing pieces for teens.
According to New York Post, the reports of her departure from the company have sent Victoria’s Secret & Co.’s share price tumbling down by about eight percent. The leading lingerie brand said that veteran executive, Martin Walters, is set to take over Hauk’s position at PINK. And while he has a new assignment, Walters will still remain as the chief of Victoria’s Secret & Co.
At any rate, the company said that Hauk is leaving as she would like to have more time with her family. “Amy Hauk will be stepping down as CEO of Victoria’s Secret and PINK in order to spend more time with her family in Florida,” Victoria’s Secret stated.
Meanwhile, the company dropped another piece of news this week and revealed it has also completed its $400 million acquisition of Adore Me direct-to-consumer lingerie startup firm. Victoria’s Secret that this acquisition will be an opportunity to leverage Adore Me’s prowess and technology to keep improving its brand and PINK.
“From the beginning, we evaluated Adore Me as a two for one opportunity – a technology-led, digital-first innovator in the intimates category and a highly efficient, growing and profitable standalone business model,” Victoria’s Secret & Co.’s CEO said in a press release. “I am thrilled with the swift completion of the acquisition and excited to welcome the entire Adore Me team into the VS&Co family.”
Photo by: WestportWiki/Wikimedia Commons (CC BY-SA 3.0)
