L Brands taps two CFOs to lead its brands’ post spinoff

Columbus Business First

COLUMBUS, Ohio (COLUMBUS BUSINESS FIRST)–L Brands are turning to familiar names – both external and internal – as CFOs of Victoria’s Secret and Bath & Body Works.

The Columbus-based retailer announced this week that Tim Johnson, the long-time executive of fellow local-based publicly traded merchant Big Lots Inc., is the new financial leader of the soon-to-spinoff Victoria’s Secret brand.

The company also announced it is promoting Wendy Arlin from senior vice president of finance and controller of L Brands to CFO of Bath & Body Works.

“Tim is an experienced public company CFO with extensive knowledge of the retail industry in addition to having previously spent over eight years with L Brands early in his career,” L Brand’s chairwoman Sarah Nash said in a release. “Wendy is an exceptional and skillful leader who knows our business well and has made significant contributions to the company, having worked closely with the board, Stuart, and other senior leaders during her 16 years at L Brands.”

Long-time L Brands CFO Stuart Burgdoerfer will retire when Victoria’s Secret spins off into a separate company, which is expected to be completed in August. Johnson and Arlin will take their new positions at that time.

Johnson started his career in public accounting with Coopers & Lybrand and spent eight years in corporate finance roles at L Brands, then called Limited Brands.

He moved to Big Lots in 2000 and spent seven years as CFO there from 2012 to 2019 in addition to roles in strategic planning, financial planning and analysis, risk management, asset protection, and other duties. He also was interim co-CEO of the business for a period in 2018.

Arlin was an audit partner with KPMG before joining L Brands in 2005. She’s been senior vice president of finance and controller for the company since that time.

She’s had an assortment of responsibilities in that role including overseeing corporate finance, SEC reporting and accounting, real estate and store design finance, and other functions.

For more business headlines go to ColumbusBusinessFirst.com.

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