Victoria’s Secret has announced a significant leadership transition, appointing Hillary Super as its new chief executive officer. Super, who previously held the position of CEO at Savage X Fenty, will officially take over from Martin Waters on September 9.
Waters, who has been at the helm since 2021, will assist with the transition process as an advisor until the end of this month. Meanwhile, Chief Financial and Administrative Officer Timothy Johnson will serve as the interim CEO during this period.
The lingerie and apparel retailer has faced challenges with declining sales and is in the midst of a major transformation, aiming to refresh its product offerings and revamp its store designs. Following a halted sale of the company to private equity firm Sycamore Partners in 2021 due to the impacts of the pandemic, plans for a spinoff were initiated.
Hillary Super’s prior role was crucial as CEO of Savage X Fenty, a brand recognized for its appeal to younger consumers. Her expertise could play a pivotal role in helping Victoria’s Secret better engage this important demographic.
In response to the announcement, shares of Victoria’s Secret surged by over 15% prior to market opening.
Prior to her tenure at Savage X Fenty, Super was the Global CEO of Anthropologie Group, which is part of Urban Outfitters.
Victoria’s Secret Chair of the Board, Donna James, highlighted Super’s deep understanding of vertically integrated retail brands and her ability to grasp consumer insights, which are essential for navigating the rapidly evolving fashion landscape. James expressed confidence that Super will spearhead growth in the company’s core business across North America.
