Bath & Body Works Appoints Second Director in Two Weeks — Retail Bum

Bath & Body Works has appointed Steve Voskuil, a veteran chief financial officer (CFO), to its board amidst rising pressure from an activist investor.

Voskuil, who is an expert in capital allocation, is the current senior vice president and CFO of The Hershey Company. Previously, he served as the finance chief of Avanos Medical, formerly Halyard Health, and for over two decades at Kimberly-Clark Corporation in various finance positions.

His appointment makes him the 12th Bath & Body Works board of directors member. It’s the second in two weeks wherein the company has added another member to appease Third Point, an activist investor with a 6% stake in the company.

Voskuil “brings deep knowledge of the global consumer products industry as well as substantial expertise in leading financial operations that span from oversight of capital allocation and investment to technology infrastructure transformation,” said board Chair Sarah Nash.

Last week, the company added CPG veteran Lucy Brady, a senior executive at Conagra Brands, to its board, bringing the total number of its board members from 10 to 11, according to Reuters.

The appointments come weeks after Third Point founder Daniel Loeb reportedly told his fund investors that he was keeping a close eye on the company and its new chief executive.

Photo credit: Bath & Body Works

Originally published at https://retailbum.com on February 22, 2023.