Victoria’s Secret Names New CEO
Columbus, Ohio, Limited Brands Inc. on Monday announced that Lori Greeley will replace Grace Nichols as CEO of Victoria’s Secret Stores. Greeley is currently executive VP and general merchandising manager of intimates for Victoria’s Secret.
The retirement of Nichols, a 20-year Limited veteran, from the CEO post was announced in May 2006. She will take a new role supporting initiatives within Victoria’s Secret, including the growth of its Intimissimi brand.
Additionally, Mark Weikel, COO of Victoria’s Secret Stores, will add the title of president.
New Home Depot CEO Could Earn $8.9M
Atlanta, The Home Depot Inc.’s new CEO could earn as much as $8.9 million in total compensation this year, the retailer said in a regulatory filing Wednesday. Frank Blake’s compensation is smaller than the roughly $24 million a year on average that former CEO Robert Nardelli received.
According to Wednesday’s filing with the Securities and Exchange Commission, Blake will earn a base salary this year of $975,000. He also could be entitled to a management incentive-plan award equal to double his base salary and a long-term incentive award equal to his base salary.
The filing says Blake’s compensation for 2007 also includes up to $5 million in equity in the company based on how Home Depot’s share price performs and the amount of total shareholder return.
Goody’s Hires Former Limited Executive
Knoxville, Tenn., Goody’s Family Clothing Inc. on Monday named a former Limited Brands executive as its new CEO. Chuck Turlinski, who for the past three years was the CEO of The Limited Brands Inc., spent the past 10 years as a senior manager in various divisions of Limited. He will assume the new job on Feb. 14.