Brett_Hondow
Opinions of the company Bath & Body Works Inc.NYSE: BBWI) stock rose after hours on Thursday when Dan Loeb led by Third Point disclosed the company’s earnings.
The hedge fund now has a 6% stake in the company and, according to savings, the ability to use money to seek change in the company.
“The Reporting Persons believe that certain decisions of the Issuer’s Board of Directors raise questions about the adequacy of current governance practices,” the 13-D states. “The Reporting Persons believe that the Offeror, through the compensation committee of the Board, made a mistake in fixing his compensation so that excessive awards were made that did not meet the performance requirements.”
Other issues Loeb has initiated include shareholder relations, board composition, and financial control. If he finds that the actions to resolve these concerns are not enough, Loeb has indicated that he “may seek changes to the Committee and/or take action at the next annual meeting of the Company.”
Shares of Ohio retailers rose 4.37% in sales after hours on Thursday.
Investigate the company’s profit margins.
