Victoria's Secret Names Hillary Super as New CEO

Victoria's Secret has appointed Hillary Super, the former chief executive of Savage X Fenty, as its new chief executive, effective September 9. Super will succeed Martin Waters, who became CEO in 2021 and will remain as an advisor until the end of the month to ensure a smooth transition. Timothy Johnson, Chief Financial and Administrative Officer, will serve as interim CEO during the transition process. Shares of Victoria's Secret surged over 15% in pre-market trading following the announcement.

Victoria's Secret has struggled with declining sales and is aiming to revitalize its brand. Super, who has led the Rihanna-co-founded Savage X Fenty since June 2023, brings experience that could help attract a younger demographic. Super's past experience includes serving as Global CEO of Anthropologie Group. As Victoria's Secret Chair Donna James put it, "She understands vertically integrated retail brands and has an intuitive understanding of the consumer landscape, informed by customer insights which are critical for consistently delivering in this industry and its ever-accelerating fashion and economic cycles." (This story was generated by Newser's AI chatbot. Source: the AP)