Core Viewpoint - Bath & Body Works, Inc. has appointed Daniel Heaf as the new CEO, effective immediately, following a unanimous decision by the independent directors, with a focus on driving growth and transformation within the company [1][3]. Company Leadership - Daniel Heaf is recognized as a transformative leader with extensive experience in consumer-centric strategies and innovation, having previously held senior roles at Nike and Burberry [2][9]. - Heaf's leadership at Nike included overseeing a significant growth in the direct-to-consumer business, which expanded from $10.4 billion in 2018 to $22.3 billion in 2023 [9]. Financial Performance - The company pre-announced its first quarter 2025 net sales of $1.424 billion, reflecting a 3% increase compared to the previous year, and earnings per diluted share of $0.49, up from $0.38 last year [5]. - Bath & Body Works maintains its full-year 2025 net sales guidance of 1% to 3% growth and earnings per diluted share guidance of $3.25 to $3.60 [5][6]. Strategic Vision - Heaf aims to leverage the company's strong brand and loyal customer base to enhance Bath & Body Works' position as a leading global home fragrance and beauty brand [3][9]. - The Board emphasizes the importance of a forward-looking strategy that honors the company's legacy while embracing necessary transformations to meet consumer demands [3]. Company Overview - Bath & Body Works is a global leader in personal care and home fragrance, with a strong supply chain and a significant presence in both physical and online retail [10]. - As of February 1, 2025, the company operates 1,895 locations in the U.S. and Canada and 529 international franchised locations [10].