L Brands, Inc. announced that Stuart Burgdoerfer has communicated to the board of directors his desire to retire as Executive Vice President and Interim CEO of the Victoria’s Secret business. Martin Waters, currently CEO of Victoria’s Secret Lingerie, has been promoted to CEO of the Victoria’s Secret business and will assume those responsibilities effective immediately. Waters will report to Andrew Meslow, CEO of L Brands. Burgdoerfer will remain in his CFO role through August 2021.