Long-Term Returns of Dan Loeb’s 5 Activist Targets

3. Bath & Body Works, Inc. (NYSE:BBWI)

Stock Return: 14.12%
Activist Investment: 2022

Bath & Body Works, Inc. (NYSE:BBWI) is a specialty home fragrance body care and soap retailer. Third Point LLC declared a 6.02% stake in the company in late 2022 as it also pushed for a refresh of the board and reduced management compensation in favor of shareholders’ returns.

In its 13D filing, Third Point questioned the adequacy of governance policies at the company while also criticizing excessive management compensation. Early 2023, Loeb sent a letter to the board affirming his plan to nominate a set of director candidates for election. He also urged the board to hire a permanent CEO with a proven track record.

Bath & Body Works, Inc. (NYSE:BBWI) price has increased by 14.12% since Loeb started waging a proxy battle with the company.

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