L Brands Appoints Wendy Arlin as CFO for Bath & Body Works and Tim Johnson as CFO for Victoria’s Secret

COLUMBUS, Ohio, May 19, 2021 (GLOBE NEWSWIRE) — L Brands today announced the appointment of Chief Financial Officers for the standalone Bath & Body Works and Victoria’s Secret businesses. Upon the completion of the spin-off of Victoria’s Secret, which is targeted to occur in August 2021, Wendy Arlin, currently SVP of Finance and Controller for L Brands, will become Bath & Body Works CFO, and Tim Johnson, previously CFO and Chief Administrative Officer for Big Lots, will become Victoria’s Secret CFO. As previously announced, current L Brands CFO Stuart Burgdoerfer will retire at that time.

Sarah Nash, chair of L Brands board, said, “We are pleased to announce the appointment of two proven and talented individuals with strong public company expertise to the CFO roles of each standalone business. Wendy is an exceptional and skillful leader who knows our business well and has made significant contributions to the company, having worked closely with the board, Stuart and other senior leaders during her 16 years at L Brands. Tim is an experienced public company CFO with extensive knowledge of the retail industry in addition to having previously spent over eight years with L Brands early in his career. We are confident that Wendy and Tim are the right leaders to help each business deliver profitable growth and enhanced value to our stakeholders.”

The previously announced plan to separate Bath & Body Works and Victoria’s Secret into standalone publicly-listed companies remains on track to be completed in August 2021, subject to certain customary conditions, including final approval of the L Brands Board and effectiveness of a Form 10 registration statement filed with the U.S. Securities and Exchange Commission.

About Wendy Arlin
Wendy Arlin currently serves as SVP of Finance and Controller for L Brands, leading corporate finance, SEC reporting and accounting, real estate and store design finance, and financial shared services, including inventory control, accounts payable, payroll, and banking and cash management. With L Brands since 2005, Wendy has established, led and maintained a strong finance and accounting organization. Prior to joining the company, she was an audit partner with KPMG.

About Tim Johnson
Tim Johnson is an experienced public company CFO, most recently having served as both CFO and Chief Administrative Officer for Big Lots. He brings seven years of experience as a public company CFO, along with broad experience in strategic planning, financial planning and analysis, reporting, accounting, tax and investor relations, as well as risk management, asset protection and security and distribution centers. Tim also served as interim co-CEO of Big Lots in 2018 with the company’s chief merchant. He started his career in public accounting at Coopers & Lybrand, followed by corporate finance roles at then Limited Brands.

L Brands, through Bath & Body Works, Victoria’s Secret and PINK, is an international company. The company operates 2,681 company-operated specialty stores in the United States, Canada and Greater China, in more than 700 franchised locations worldwide and through its websites worldwide.

For further information, please contact:

L Brands:
Investor Relations Media Relations
Amie Preston Brooke Wilson
(614) 415-6704 (614) 415-6042
apreston@lb.com communications@lb.com