Australian billionaire Brett Blundy is pushing to remove the long-term chair of Victoria’s Secret & Co as the company prepares for a shareholder vote at its annual meeting in the United States on Thursday. Blundy’s investment firm, BBRC International, holds about 13% of the US-listed lingerie retailer, making it one of the company’s largest single shareholders. The campaign sets up a potential confrontation over the direction of the retailer’s board and its ongoing turnaround efforts.
According to reporting, Blundy is asking shareholders to vote against the re-election of the chair, which would change leadership at the level of the company’s board. The outcome of the vote is expected to be determined by shareholder support for BBRC International’s proposal versus backing for the current chair’s continuation.
Both outlets describe the situation as a high-stakes boardroom showdown, with the possibility of further corporate action if Blundy and other shareholders rally behind efforts to alter the board composition.
