8-K: Bath & Body Works Director Resigns, Board Size to Decrease

Thomas J. Kuhn resigned from the Bath & Body Works Board of Directors effective April 20, 2024, leading to a reduction in board size.

Summary

• Thomas J. Kuhn resigned from the Bath & Body Works Board of Directors on April 20, 2024.
• The resignation was effective immediately on April 20, 2024.
• Following Mr. Kuhn's resignation, the size of the Board of Directors has been reduced to 12 members.
• The board size will further decrease to 10 members after the 2024 Annual Meeting of Stockholders.
• This further reduction is due to Patricia S. Bellinger and Michael G. Morris's decisions not to seek re-election.

Sentiment

Score: 5

Explanation: The document reports a routine board member resignation and planned board size reduction, which is neither positive nor negative for the company's performance.

Future Outlook

The Board of Directors size will be reduced to 10 members after the 2024 Annual Meeting of Stockholders.

Industry Context

Board changes are a normal part of corporate governance, and this announcement is specific to Bath & Body Works.

Comparison to Industry Standards

• Board sizes vary across companies, but a board of 10-12 members is not unusual for a company of Bath & Body Works' size.
• Changes in board composition are common, especially around annual meetings and re-election cycles.
• Many companies have similar governance structures with a mix of independent and executive directors.

Management Changes

Stakeholder Impact

• Shareholders may be interested in the changes to the Board of Directors.
• The reduction in board size may impact the decision-making process of the company.

Next Steps

• The Board of Directors size will be reduced to 10 members after the 2024 Annual Meeting of Stockholders.

Key Dates

Keywords

Board of Directors, Resignation, Corporate Governance, Board Size, Annual Meeting, Director