Victoria’s Secret names new CEO, other leadership appointments

A company veteran has taken over the reins at Victoria’s Secret. 

L Brands Inc., parent company of Victoria’s Secret and Bath & Body Works, has appointed Martin Waters as CEO of Victoria's Secret Lingerie, effective immediately. He replaces John Mehas, who has served in the role since Feb. 2019 and was previously president of Tory Burch. 

Waters joined L Brands in 2008 as head of the international division. Under his leadership, the international business has expanded from the early phases of incubation to more than 700 stores globally, the company stated. 

Prior to L Brands, Waters was managing director for U.K.-based health and beauty retailer Boots International (now Walgreens Boots Alliance). He also has significant experience in strategic planning, merchandising, planning and allocation, brand management, marketing and supply chain operations.

L Brands has been working to update the image of Victoria’s Secret, whose revenues have been on the decline for the past several years. The lingerie brand showed a small bit of improvement in the company’s most recent third quarter as its total comp sales rose 4% (compared to a 56% increase in Bath & Body Works). Overall sales fell 14% to $1.3 billion.

“Martin Waters is an experienced retail executive who has led our international business for the past 12 years, said Sarah Nash, chair of L Brands’ board. “He is an exceptional leader and is widely respected both within and outside of our business.”

In other appointments, Laura Miller was named chief human resources Officer of Victoria’s Secret.

Becky Behringer was promoted to executive VP of North America store sales and operations; and Janie Schaffer was named chief design officer of Victoria’s Secret Lingerie.

“The board and I are thrilled by the appointments of these talented leaders with demonstrated records of execution,” Nash added. “With their collective expertise and working together alongside the entire leadership team at Victoria’s Secret, we will continue to drive the business forward and reposition it for success.”