THE WHAT? Bath & Body Works has named Thomas Kuhn as a new Director, a decision made following pressure from investor Daniel Loeb’s hedge fund Third Point, according to a report by Reuters.
THE DETAILS A lawyer and former banker who is currently a member of advisory and investment firm Doorbrook, Kuhn will join the board as its third newcomer, and was recommended by Third Point.
THE WHY? The news follows Bath & Body Works statement that it would not concede to Loeb’s ‘ultimatum’ of having his personal protégé Munib Islam named to the board, with Kuhn’s appointment reported to have appeased a potential challenge from Loeb.
The post Game, set and match to Third Point? Bath & Body Works appoints investor-approved Director appeared first on Global Cosmetics News.