Bath & Body Works is shaking things up, tapping ex-Nike powerhouse Daniel Heaf as CEO starting May 2025. The retail giant’s bold move comes during solid performance, with revenue up 3% to $1.42 billion. Heaf, who managed Nike Direct’s massive operation of 45,000 employees across 41 countries, steps in for Gina Boswell. Despite market challenges and a 14% year-to-date stock dip, Heaf sees “unexploited potential” in the company’s future. The story behind this strategic shuffle reveals more.
In a bold shake-up, Bath & Body Works has tapped Nike executive Daniel Heaf as its new CEO, marking the company’s second leadership change in less than three years. The appointment, effective May 19, 2025, comes as the retailer rides a wave of solid performance, with first-quarter revenue up 3% to $1.42 billion.
Heaf’s taking over from Gina Boswell, who’s quietly exiting after steering the ship since December 2022. No drama – at least none they’re sharing publicly. But here’s the thing: Boswell actually did pretty well, getting the company back to track post-COVID and pumping up those profit margins. Talk about an interesting time to switch captains.
Despite Boswell’s solid performance in reviving Bath & Body Works post-pandemic, she’s heading out as Heaf steps in to take the reins.
The new boss brings some serious retail chops to the table. At Nike, Heaf wasn’t just pushing papers – he was running Nike Direct, managing 45,000 people and 9,000 stores across 41 countries. Before that, he transformed Burberry’s digital game and did his thing at BBC Worldwide. His position was eliminated when Nike’s new CEO restructured the company. Not too shabby. With his proven track record, Heaf aims to drive brand and product investment for significant growth. The company’s strategy reflects the importance of risk management in adapting to changing market conditions.
Wall Street’s reaction? Let’s just say they’re not throwing confetti. The stock took a 1.2% hit after the announcement, and it’s already down 14% this year. But hey, the company’s still projecting earnings between $3.25 and $3.60 per share for 2025, so it’s not all doom and gloom.
Heaf’s already talking big game, calling Bath & Body Works a company with “remarkable, unexploited potential” at a “thrilling turning point.” The board’s chair, Sarah Nash, is practically gushing about him being a “visionary leader.”
Sure, the company’s facing some headwinds – those pesky China tariffs and sluggish consumer demand aren’t helping – but at least most of their supply chain is in North America.
The timing’s interesting, considering February’s warning about market challenges. But with Heaf’s digital transformation experience and international retail expertise, maybe – just maybe – this shake-up is exactly what Bath & Body Works needs to keep that momentum going.
