– APPOINTS FRANCIS A. HONDAL AND DANIELLE LEE TO BOARD OF DIRECTORS –
– LES AND ABIGAIL WEXNER WILL NOT STAND FOR REELECTION TO BOARD IN MAY 2021 –
COLUMBUS, Ohio, March 18, 2021 (GLOBE NEWSWIRE) — L Brands today announced that Francis Hondal, president of loyalty and engagement at Mastercard, and Danielle Lee, Chief Fan Officer for the National Basketball Association, have been appointed as two new independent members of its Board of Directors. Additionally, Les and Abigail Wexner will not stand for reelection to the Board at the annual shareholders’ meeting in May 2021. With these changes, in May 2021, the Board will consist of 10 directors, nine of whom are independent and six of whom are women.
Les Wexner said “L Brands is at a terrific place in its history. The Board is incredibly well-led by Sarah and we have two new wonderful directors joining us. We have some of the strongest brand leaders in our history and the businesses are well positioned going into the future. I am more confident than ever that we have very positive momentum as we approach the planned separation into two businesses. Now is an ideal time for Abigail’s and my transition from the Board. When I retired from the business last year, I said that creating this business and working with so many talented associates, literally millions of them, was a source of great pride. I am deeply honored to have been a part of the lives of so many associates and customers since I first opened the doors in 1963.”
Sarah Nash, Chair of the Board, commented “Serving with Les has been an inspiration for all of us at L Brands. His thoughtful approach to developing brands and building dedicated and talented teams have enabled L Brands to evolve and succeed as a leading specialty retailer for nearly 60 years. I am so appreciative of everything that Les and Abigail have done to serve this board and L Brands’ stakeholders. With the strong foundation we have in place, we are so excited to move forward with the company’s next chapter and our plans to create two businesses in the future.”
“We are thrilled to welcome Francis and Danielle to the L Brands Board,” Nash continued. “Their respective abilities to foster connections with consumers across in-person as well as digital channels will be invaluable as L Brands continues to execute its strategy and deliver engaging shopping experiences. The appointments of these two highly talented individuals reinforce the Board’s commitment to ensuring we have a diverse and qualified board with the right skillsets and backgrounds to drive value for shareholders and effectively guide the company through the planned separation and beyond.”
About Francis A. Hondal
Francis Hondal has more than 25 years of general management experience and is president of loyalty and engagement at Mastercard. She is a member of the company’s Management Committee and currently leads the development of products that enable exceptional consumer experiences through loyalty, rewards and performance-based marketing services for enterprises worldwide. Previously, she was executive vice president of credit and loyalty, responsible for growing usage and preference of Mastercard branded products. Throughout her career, she has been a passionate advocate for consumer-centric strategies leveraging insights and technologies that influence consumer engagement and build brand affinity. Ms. Hondal enjoyed a 17-year career at American Express in global and regional roles within the consumer services division and has been recognized by Fortune amongst top Hispanic women in corporate America. She currently serves on the board of Equitable Holdings, a financial service holding company comprised of two complementary and well-established principal franchises, Equitable and AllianceBernstein. She is also a Board observer for Flybits, a Canadian contextual marketing fintech, and serves on the board of the FIU Foundation. Ms. Hondal earned her bachelor’s degree in international business and finance and an MBA from Florida International University.
About Danielle Lee
Danielle Lee is a strategic marketing executive with over 20 years of experience in brand building, media innovation and technology for some of the world’s most respected brands. She currently serves as Chief Fan Officer for the National Basketball Association where she oversees brand, creative and multiplatform fan marketing globally and is charged with elevating brand perception, cultural connection and fan engagement. Prior to joining the NBA, Ms. Lee served for four years as Global Vice President, Partner Solutions at Spotify, where she was responsible for developing go-to-market strategy and growing global revenue across music, podcasts and high-impact digital experiences. Prior to Spotify, Ms. Lee served as Global Vice President, Commercial Marketing at Vevo and spent seven years at AT&T and served as Vice President of Product Marketing and Innovation for AT&T AdWorks after beginning her career at Showtime Networks. Ms. Lee received a Bachelor of Arts and Political Science from Columbia University and received an MBA in marketing and media management from Columbia Business School.
ABOUT L BRANDS:
L Brands, through Bath & Body Works, Victoria’s Secret and PINK, is an international company. The company operates 2,669 company-operated specialty stores in the United States, Canada and Greater China, in more than 700 franchised locations worldwide and through its websites worldwide.
| For further information, please contact: | ||
| L Brands: Investor Relations Amie Preston (614) 415-6704 apreston@lb.com |
Media Relations Brooke Wilson (614) 415-6042 communications@lb.com |
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