L Brands appoints J.K. Symancyk to board of directors
L Brands announced on Friday the appointment of J.K. Symancyk as an independent member of its board of directors.
Symancyk brings over 25 years of industry experience managing complex retail operations to L Brands including through his previous roles at Academy Sports + Outdoors, Meijer and Walmart Stores. Most recently, he served as PetSmart president and CEO, and a member of the company’s board of directors, since June 2018. He also serves as chairman of PetSmart Charities and is a member of the Chewy board of directors.
“We are pleased to welcome J.K. to the Board and look forward to benefitting from his deep retail and leadership expertise,” said Sarah E. Nash, chair of L Brands’ board of directors.
“J.K. has a proven track record of helping organizations drive profitable growth, while improving operational performance of large, multi-channel consumer businesses. His broad industry knowledge will help guide L Brands as we enter our next chapter and complete the planned separation of Bath & Body Works and Victoria’s Secret.”
With the appointment of Symancyk, the board now consists of 11 directors, ten of whom are independent and six of whom are women.
This month, the parent company of Victoria’s Secret and Bath & Body Works announced higher than expected Q1 earnings. The company’s quarterly net sales came to $3.02 billion, up 82.8 percent from $1.65 billion in the prior-year period, when revenues were impacted by the Covid-19 pandemic.
L Brands is currently preparing for the spin-off of the Victoria’s Secret Brand into a separate company, which is expected to conclude in August of this year.
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