Victoria’s Secret is set for a leadership shakeup as Hillary Super, formerly of Savage X Fenty, ascends to the role of chief executive officer. Super’s appointment will be effective from September 9, taking over from Martin Waters, who has served as CEO since 2021. As part of a seamless transition, Waters will remain as an advisor through the end of the month, while Chief Financial and Administrative Officer Timothy Johnson temporarily steps into the role of interim CEO.
This executive change comes as Victoria’s Secret continues to navigate a challenging retail landscape marked by slowing sales and an ongoing effort to reinvent its brand and retail spaces. Plans for a spinoff from its parent company, L Brands, were originally unveiled in 2021. This move followed the collapse of a proposed sale to private equity firm Sycamore Partners due to disruptions caused by the coronavirus pandemic.
Super’s recent tenure as CEO of Savage X Fenty, a lingerie brand co-founded by global icon Rihanna in June 2023, has been particularly notable. Her experience there—leading a company that resonates deeply with younger consumers—positions her well to steer Victoria’s Secret towards capturing this crucial demographic.
The stock market reacted positively to the announcement, with shares soaring over 14% before the market opened.
Before her role at Savage X Fenty, Super held the position of Global CEO at Anthropologie Group, part of Urban Outfitters, where she honed her skills in managing vertically integrated retail brands and understanding consumer dynamics.
Victoria’s Secret Chair of the Board, Donna James, stated on Wednesday that Super’s primary mission would be to accelerate growth in the company’s core North American market. James emphasized Super’s comprehensive grasp of consumer insights and retail trends, noting that this expertise is essential for navigating the fast-evolving fashion industry and economic cycles.
