Vera Bradley adds former Bath & Body Works CEO to board
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Vera Bradley has appointed the former CEO of L Brands and Bath & Body Works to its board of directors as the Fort Wayne-based fashion retailer continues its efforts to reinvigorate its brand and boost profits.
Andrew Meslow served as CEO of L Brands from May 2020 to May 2022 and as CEO of its Bath & Body Works division for two years prior. He joined L Brands in 2003, working in roles at Victoria’s Secret before moving to Bath & Body works in 2005 as executive vice president and chief financial officer. He also has held senior leadership positions at Banana Republic and Ann Taylor.
“We are excited to have Andrew Meslow, a seasoned senior retail executive, join the board,” Frances Philip, lead independent director of the board and chair of its nominating and governance committee, said in a news release. “His track record of driving operational excellence at some of the world’s best specialty retail brands, as well as public company CEO experience, will make him an outstanding addition as we continue to nurture the green shoots of Project Restoration.”
Project Restoration is a restructuring effort launched in 2023 to return the luggage, handbag, and fashion accessory designer back to profitability. Last July, the retailer also began a brand refresh, Inside INdiana Business reported.
But boosting profitability has proven elusive. In December, the retailer reported a fiscal third-quarter net loss of $12.8 million compared with net income of $5.1 million during the same period the previous year. Later that month, one of its largest shareholders called on the board to consider strategic alternatives, such as taking the company private or selling the company, Inside INdiana Business reported.
As Meslow joins the board, a longtime board member has departed. Mary Lou Kelley left the board on Feb. 7, the company said in its news release. She joined the board in 2015 and has held executive roles with Best Buy, Chico’s FAS Inc. and L.L. Bean.
Shares of Vera Bradley were trading at $3.46 Tuesday morning, slightly above its 52-week low of $3.14.