CEO Andrew Meslow to depart May 12; receives $7M severance, extended non-compete

Bath & Body Works, Inc.

CEO Andrew M. Meslow resigns effective May 12, 2022 due to health reasons.
Severance: $7 million cash over 24 months plus health coverage for 24 months.
Non-compete extended to 24 months globally; unvested equity forfeited (86k options, 123k RSUs, 1.3M PSUs).
Transition agreement unanimously approved by Board; Meslow agrees to cooperate and release claims.

item 5.02 item 9.01

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Departed

Andrew M. Meslow

Chief Executive Officer

BBWI · Bath & Body Works, Inc.

Effective: 2022-05-12
Filed: May 5, 2022, 7:59 PM ET

On May 4, 2022, Andrew M. Meslow, Chief Executive Officer of Bath & Body Works, Inc. (the “Company”) and a member of the Company’s Board of Directors (the “Board”), entered into a Transition and General Release Agreement (the “Transition and Release Agreement”) with the Company, in anticipation of his previously announced departure due to health reasons effective on May 12, 2022 (the “Separation Date”).

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Andrew M. Meslow departed as Chief Executive Officer at Bath & Body Works, Inc..

Action: departed
Role: Chief Executive Officer

Exact text from the filing

On May 4, 2022, Andrew M. Meslow, Chief Executive Officer of Bath & Body Works, Inc. (the “Company”) and a member of the Company’s Board of Directors (the “Board”), entered into a Transition and General Release Agreement (the “Transition and Release Agreement”) with the Company, in anticipation of his previously announced departure due to health reasons effective on May 12, 2022 (the “Separation Date”).

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Bath & Body Works, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-22-056101

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