Victoria’s Secret board nominees receive proxy backing

Victoria’s Secret has said that its nine director nominees have received approval from three independent proxy advisors in the run up to its annual shareholder meeting, to be held on June 11.

Institutional Shareholder Services, Glass Lewis & Co and Egan-Jones Proxy Services have all issued recommendations for shareholders to vote ‘for’ the director nominees, including independent chair Donna James.

The company said the backing “reaffirms that our board is best positioned to continue overseeing the successful execution of our ‘Path to Potential’ strategy and continued value creation for shareholders”.

The lingerie brand’s leadership has faced increased scrutiny in recent months from activist investor Brett Blundy, whose investment vehicle BBRC International owns a 12.9 percent stake in the label. Blundy’s campaign for representation spans back to 2023, however, the entrepreneur has since escalated his efforts in an effort to secure a seat on the board.

In response, Victoria’s Secret has doubled down on its transformation strategy under CEO Hillary Super, underlining its focus on long-term growth and board refreshment. The company has also reported a 152 percent total shareholder return since Super’s appointment in August 2024.

In its latest statement, Victoria's Secret further shared that the strategy was already “generating very strong results”, with Q1 2026 earnings having “exceeded both top- and bottom-line guidance”. “Our momentum is broad-based across categories, channels, and geographies, and this strength was reflected in the market’s overwhelmingly positive response,” Victoria’s Secret added.