The appointment comes weeks after Third Point, which owns a 6% stake in the company, hinted it might push for board seats.
Last week, Third Point founder Daniel Loeb told his fund investors in a letter seen by Reuters that he was closely watching the company and its new chief executive.In December Third Point announced its stake in a regulatory filing and criticized the company’s high costs, including generous executive pay. Third Point declined to comment on Monday.
Last week Loeb called the appointment of Chief Executive Gina Boswell, a former Unilever executive, in December “an encouraging first step.” But he also said hard work lay ahead and that the stock price could climb if executives get the core business back on track.Bath & Body Works, best known for selling soaps, candles and lotions, is valued at $10 billion.“The real prize, however, would be if Ms.
Third Point spent an average of $38.16 per share on the stock which is now trading at $44.48. The period for nominating directors opened on Friday.
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