Hillary Super Appointed CEO of Victoria's Secret

Victoria's Secret has appointed Hillary Super, former CEO of Rihanna's Savage X Fenty, as its new chief executive, effective September 9. Super's compensation package could exceed $18 million, including a base salary of $1.2 million, a $1 million signing bonus, and significant equity awards. She will be replacing Martin Waters, who will serve as an advisor until the end of August, while CFO Timothy Johnson acts as interim CEO. This transition comes as Victoria's Secret seeks to revitalize its brand amid intense competition in the lingerie market. Super's extensive experience in retail is expected to help steer the company towards growth, with an improved earnings forecast also announced. Shares of Victoria's Secret surged by over 13% following the news of her appointment.