Victoria’s Secret Brand CEO Steps Down, Stock Plummets

Victoria’s Secret Brand CEO, Amy Hauk, has abruptly resigned just eight months into the position, the company announced on Tuesday. Hauk’s reasoning for leaving was cited as “to spend more time with her family in Florida.”  

Hauk will also be parting ways with Victoria’s Secret’s sister company, PINK, which she served as CEO as well. She will leave both positions at the end of March.

Hauk was promoted to Brand CEO at Victoria’s Secret last July after working for L Brands since 2008 and PINK since 2018.

Victoria’s Secret Company CEO, Martin Walters, will take on the additional role of Brand CEO once Hauk’s resignation becomes effective. 

According to CNN, following the news, Victoria’s Secret shares dropped about 8% on Tuesday. 

And according to the New York Post, in the last year, Victoria’s Secret  Co.’s stock price has fallen around 40%.

Over the last couple of years, Victoria’s Secret has been trying to regain popularity in the women’s intimate retail space by focusing less on sex appeal and more on body positivity. 

The brand was commonly known for its “Angel” supermodels but has now added plus-sized models for inclusivity and to keep up with the trends.