Bath & Body Works Hires Ex-Nike Executive as CEO
Bath & Body Works selected Daniel Heaf to be its new CEO after he left his executive position at Nike which aligns with their expansion plans for new markets and international territories.
The leadership change occurred after Gina Boswell went on medical leave although she only joined the company in late 2022 after coming from Unilever. Under Boswell's leadership the company achieved revenue growth by using its North American supply chain to protect itself from tariff volatility.
Heaf took over the position right away. As Nike's chief strategy and transformation officer Heaf previously worked at the company until the role disappeared due to organizational changes. During his career at Nike he managed the direct-to-consumer business while also heading digital transformation at Burberry. Heaf moved to Columbus Ohio on Saturday to start his work in the company headquarters on Monday.
The company predicts Heaf will develop new strategies to enhance its brand appeal toward its current and new consumer segments. The company aims to grow its tween and male customer base while accelerating its international business expansion. The board believes Heaf brings essential brand-building skills and digital expertise to expand the company according to someone with knowledge of the situation.
The company announced preliminary first-quarter results which surpassed market expectations during the leadership change announcement. First-quarter revenue increased 3% to $1.42 billion while earnings per share achieved 49 cents compared to 38 cents in the previous period. The company sustained its annual forecast which incorporates a 10% tariff on Chinese imports but does not factor in further trade barriers.
The domestic supply chain of Bath & Body Works operates as a shield against global disruptions including Trump-era tariffs because it maintains most of its operations within the United States. The company recognizes an evolution is necessary in the face of rising competition so it has chosen Heaf to guide this transformation.
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