### Bath & Body Works Welcomes Daniel Heaf as New CEO in Leadership Shake-up

Bath & Body Works has announced Daniel Heaf as its new CEO, marking the company's second leadership change in under three years. This immediate appointment comes as Heaf replaces Gina Boswell, who joined the company as CEO in December 2022. Heaf steps into this new role after his position as Chief Strategy and Transformation Officer at Nike was eliminated by Nike’s new CEO, Elliott Hill.

Daniel Heaf brings a wealth of experience from his previous roles, including overseeing Nike Direct, where he managed 45,000 employees and 9,000 stores spread across 41 countries. Heaf also has a track record of spearheading digital transformation at Burberry, adding to his comprehensive leadership portfolio.

Gina Boswell had led Bath & Body Works through a pivotal post-pandemic recovery, focusing on returning the company to profitable revenue growth. Boswell took a medical leave of absence starting in March for surgery, a period that was meant to last several weeks. Under her leadership, the retailer effectively navigated a trading environment that benefited from its predominantly North American supply chain, mitigating the impact of extensive tariffs.

Bath & Body Works aims to expand its appeal, particularly targeting tweens and capturing a larger male demographic. Additionally, the company is setting its sights on widening its international footprint. Heaf's wide-ranging experience and strategic acumen are expected to drive these ambitious goals forward.

In conjunction with the CEO announcement, Bath & Body Works preannounced its first-quarter results on Monday. The company reported a 3% year-over-year increase in revenue, reaching $1.42 billion. Earnings per share were 49 cents, surpassing both the prior year’s 38 cents and the company's own guidance. Bath & Body Works reaffirmed its full-year guidance, factoring in a 10% tariff on goods from China, despite current 30% tariffs on Chinese imports.

Daniel Heaf has moved to Columbus, Ohio, close to the company’s headquarters, and will be formally introduced at the headquarters on Monday. He arrived freshly this weekend and has already begun meeting with top executives. The leadership change marks a new chapter for Bath & Body Works as it seeks to accelerate its growth and diversify its reach in the global market.