Bath & Body Works Names Former Nike Exec its New CEO

Bath & Body Works has a new chief executive officer, its second in less than three years. The personal care, home and beauty retailer has named Daniel Heaf as its new CEO, effectively immediately, succeeding Gina Boswell. Heaf was most recently Nike’s chief strategy and transformation officer until his role was eliminated by the sneaker giant’s new CEO, Elliott Hill. Boswell joined Bath & Body Works as CEO in December 2022 from consumer products giant Unilever.

Before his role as chief transformation and strategy officer at Nike, Heaf was the former head of Nike Direct, where he oversaw 45,000 employees and 9,000 stores in 41 countries. He also previously led Burberry’s digital transformation.

Total Retail's Take: This is a somewhat surprising announcement from the Columbus, Ohio-based retailer considering that Boswell returned Bath & Body Works to profitable revenue growth in the post-pandemic era. And during the announcement of Heaf being named CEO on Monday, Bath & Body Works pre-announced first-quarter results. Both revenue and profit surpassed the company’s estimates. Revenue grew 3 percent year-over-year to $1.42 billion. Earnings per share of 49 cents topped the year-ago 38 cents and exceeded Bath and Body Works’ guidance. Furthermore, Bath & Body Works appeared well-positioned to sustain that growth trajectory and weather tariff-related challenges that threaten other retailers' businesses, as the vast majority of its supply chain is in North America. We'll see if Heaf is able to accelerate Bath & Body Works' growth, including expanding its international business.