Bath & Body Works has appointed a former Nike executive as its new Chief Executive Officer.
Effective immediately, Daniel Heaf, who previously served as Nike’s chief strategy and transformation officer, will assume the leadership role at Bath & Body Works. The company announced the change on Monday.
“I am honored and energized by the opportunity to lead Bath & Body Works into its next chapter of growth,” Heaf expressed in a statement. “The brand has extraordinary untapped potential and stands at an exciting inflection point.”
Heaf’s appointment follows the resignation of Gina Boswell, who served as CEO since November 2022. Her departure was acknowledged by Sarah Nash, chair of Bath & Body Works’ board, who praised Boswell for her contributions during her tenure, especially in stabilizing the business post-COVID and restoring profitable revenue growth.
Boswell had recently announced she would take a temporary medical leave for surgery, which prompted the board to accelerate the selection process for her successor.
The company’s board unanimously endorsed Heaf’s appointment. After the upcoming shareholder meeting in June, he is also expected to take a position on the board.
Before joining Bath & Body Works, Heaf held prominent roles at both Burberry and BBC Worldwide, demonstrating a strong background in leadership across major consumer and retail sectors.
Bath & Body Works emphasized Heaf’s “deep consumer-centric mindset” and highlighted his proven track record of driving significant innovations globally.
This leadership transition comes as the retailer navigates challenges related to fluctuating consumer spending, which forced it to adjust its forecasts for annual sales and profits earlier this year.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BBWI | BATH & BODY WORKS INC. | 33.58 | -0.18 | -0.53% |
On Monday, the company also revealed preliminary results for the first quarter, maintaining its full-year estimates for net sales and profit.
For the year ahead, Bath & Body Works expects to achieve a net sales growth in the range of 1-3%, with anticipated earnings per diluted share between $3.25 and $3.60.
The retailer reported preliminary first-quarter net sales of $1.42 billion, reflecting a 3% increase from the previous year.
Final financial results for the first quarter are expected to be released later in the month.
The company operates nearly 1,900 company-owned locations throughout the U.S. and Canada, in addition to over 500 franchised outlets in other countries.
As of Monday afternoon, Bath & Body Works’ market capitalization was estimated at $7.19 billion.
Reuters contributed to this report.
