Loeb’s Third Point wants to nominate candidates for Bath & Body Works board, citing governance failures
Activist investor Third Point LLC on Wednesday laid out a plan to nominate candidates — including a shareholder representative — to the board of Bath & Body Works Inc., saying shareholders “urgently need representation” on grounds that executive pay was too high and financials were too weak.
The company did not immediately respond to a request for comment. Shares of Bath & Body Works rose 2.7% on Wednesday. Loeb also criticized the roughly $18 million that Nash received for taking on a new role as executive chair and interim chief executive last year, calling the interim CEO stint “part-time” work.
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