Victoria's Secret & Co.

09/04/2024 | Press release | Distributed by Public on 09/04/2024 05:01

Management Change/Compensation Form 8 K

Item 5.02. Departure of Directors or Certain Officers; Election of Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 2, 2024, Victoria's Secret & Co. (the "Company") eliminated the roles of Brand President and Chief Customer Officer to streamline the executive leadership team. As a result, Greg Unis departed his position as Brand President of the Company and Christine Rupp departed her position as Chief Customer Officer of the Company, both effective as of September 3, 2024. Mr. Unis and Ms. Rupp will each remain employed by the Company in a non-executive capacity through their respective contractual notice periods that end on October 3, 2024.
Mr. Unis's termination constitutes a termination by the Company without Cause under the Executive Severance Agreement, dated June 28, 2021, between Mr. Unis and the Company. In connection with his termination, Mr. Unis will be entitled to receive the severance benefits provided under his severance agreement, subject to his execution of a full release of claims. In addition, Mr. Unis will remain subject to certain post-termination restrictive covenants related to confidentiality, non-solicitation and non-competition.
Ms. Rupp's termination constitutes a termination by the Company without Cause under the Executive Severance Agreement, dated June 20, 2022, between Ms. Rupp and the Company. In connection with her termination, Ms. Rupp will be entitled to receive the severance benefits provided under her severance agreement, subject to her execution of a full release of claims. In addition, Ms. Rupp will remain subject to certain post-termination restrictive covenants related to confidentiality, non-solicitation and non-competition.