Dive Brief:
- Bath & Body Works announced Daniel Heaf as its CEO, effective last Friday, according to a Monday press release.
- Heaf comes to the company from Nike, where he most recently served as its chief strategy and transformation officer. He previously was the head of Nike Direct.
- Gina Boswell stepped down from the chief executive role and as a member of the board on Friday. The company billed her departure as a “termination without cause” in a securities filing.
Dive Insight:
After more than two and a half years, Bath & Body Works’ chief executive is out and a Nike vet will lead the company.
Boswell originally came to the candle and soap retailer from Unilever in 2022 and has since been terminated, according to a filing with the U.S. Securities and Exchange Commission.
“On the behalf of the Board, I want to thank Gina for her contributions to Bath & Body Works. In the post COVID-normalization period she was able to stabilize the business and return it to profitable revenue growth,” Board Chair Sarah Nash said in a statement.
Bath & Body Works conducted a search to find a new chief and brought on Heaf in part due to his past work with “transformative growth.”
As head of Nike Direct, Heaf oversaw 45,000 employees in 9,000 stores and doubled the business to $22.3 billion in five years, according to the company.
“His vision for evolving Bath & Body Works to be highly coveted, relevant, and resonant for customers everywhere — combined with his consumer-first mindset — make him the right person to lead Bath & Body Works,” Nash said.
Heaf previously served in leadership roles at Burberry, including as senior vice president of digital, marketing, analytics and customer service, and was formerly chief digital officer at BBC Worldwide. He will be appointed as a board member after Bath & Body Works 2025 annual shareholder meeting.
Alongside the executive shakeup, the personal care retailer also released preliminary Q1 earnings results. Net sales increased 3% year over year to $1.4 billion. The company is maintaining its full-year 2025 net sales guidance of 1% to 3% growth.
Bath & Body Works recently introduced a new store design, Gingham+, featuring an updated layout, technology and scent bars. Last fall the company eliminated the president of retail role and the company’s popular semi-annual sale “fell short of our expectations,” Boswell said on a previous earnings call.