Proxy Firms Recommend Vote for Victoria’s Secret Board
Their endorsements raise the odds that management’s slate will prevail at the June 11 annual meeting.
Overview
- ISS, Glass Lewis and Egan-Jones each recommended on June 3 that shareholders vote FOR all nine of Victoria’s Secret’s director nominees using the company’s WHITE proxy card.
- Victoria’s Secret highlighted its June 2 first-quarter results that beat top- and bottom-line guidance and the board’s unanimous call for shareholders to back management’s slate.
- BBRC International, a 13.0% shareholder, is running a withhold campaign targeting Chair Donna James over governance, legacy L Brands decisions and the Adore Me acquisition.
- Egan-Jones said the board’s actions since hiring CEO Hillary Super in August 2024 — a leadership refresh and the four-pillar Path to Potential plan — have driven measurable improvement, citing fiscal 2025 sales growth and an asserted ~141% total shareholder return since the CEO change.
- The June 11 vote will determine whether the company’s recent leadership changes and capital-allocation choices remain in place and is likely to be shaped by institutional investors who follow proxy-advisor advice.