Bath & Body Works, Inc. · NYSE:BBWI
Bath & Body Works — Shareholder Meeting (April 2023)
23 slides from Bath & Body Works's shareholder meeting presentation, Apr 19, 2023
Slide 1: 2023 Annual Meeting Stockholder Outreach
2023 Annual Meeting Stockholder Outreach 1
Slide 2: Forward-Looking Statements Safe Harbor Statement
Forward-Looking Statements Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 We caution that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) contained in this presentation or made by our Company or our ma
Slide 3: Forward-Looking Statements (Continued)
Forward-Looking Statements (Continued) • our geographic concentration of vendor and distribution facilities in central Ohio; • stock price volatility; • our reliance on a limited number of suppliers to support a substantial portion of our inventory • our ability to pay dividends and make share repur
Slide 4: Table of Contents
Table of Contents 2022 Business Highlights 5 Our Board and Leadership Team 8 Executive Compensation Program 12 Corporate Governance 17 Corporate Social Responsibility and ESG 19 4
Slide 5: 2022 Business Highlights
2022 Business Highlights Bath & Body Works*
Slide 6: 2022 Business Highlights
2022 Business Highlights We delivered strong financial results in fiscal 2022, our first full year as a standalone company $ $ 7.6B 1.376B 2022 Net Sales from Continuing Operations 2022 Operating Income Represents 4% YOY Decline Represents 32% YOY Decline 40% Growth vs. 2019 32% Growth vs. 2019 $ 3.
Slide 7: Positioned the Business for Long-Term Success
2022 Business Highlights Positioned the Business for Long-Term Success Leveraged agility in our unique vertically integrated and predominantly domestic supply chain, effectively managing inventory, responding to customer preferences and chasing our best performing products. Successfully launched our
Slide 8: Our Board and Leadership Team
Our Board and Leadership Team 8
Slide 9: Experienced Board Provides Strong Oversight
Experienced Board Provides Strong Oversight Demonstrated commitment to strong corporate governance policies and practices Sarah Nash Governance Highlights • Independent Board Chair • CEO and owner of Novagard Solutions 12 of 13 directors are independent Patricia Bellinger Gina Boswell Alessandro Bog
Slide 10: Diverse and Experienced Board Built for Our Business and Strategy
Diverse and Experienced Board Built for Our Business and Strategy Diverse Board with complementary skill sets and deep industry expertise QUALIFICATIONS / SKILLS / CHARACTERISTICS Experience Highlights Technology . . . . . . . . . • Average tenure of directors reduced from Executive Business Experie
Slide 11: Executive Leadership Team Transformation
Executive Leadership Team Transformation Our leadership team has been significantly transformed in recent years and is well-positioned to execute upon our omnichannel strategy and drive long-term shareholder value Gina Boswell Chief Executive Officer and Director • Joined the business and Board of D
Slide 12: Executive Compensation Program
Executive Compensation Program 12
Slide 13: Performance-Driven Executive Compensation
Performance-Driven Executive Compensation Our executive compensation program is designed to drive sustainable growth and create shareholder value through achievement of our strategic priorities Key Compensation Elements How We Align Pay with Performance ELEMENT DESCRIPTION • Our executive compensati
Slide 14: Key Compensation Program Highlights for Fiscal 2022
Key Compensation Program Highlights for Fiscal 2022 Fiscal 2022 was a period of significant transition and transformation for BBW, and the HCC Committee tailored our NEOs’ compensation to ensure continued leadership stability and promote shareholder value creation Completion of the Chief Executive O
Slide 15: Key Compensation Program Highlights for Fiscal 2022
Key Compensation Program Highlights for Fiscal 2022 Fiscal 2022 was a period of significant transition and transformation for BBW, and the HCC Committee tailored our NEOs’ compensation to ensure continued leadership stability and promote shareholder value creation One-time RSU Award to Ms. Nash in r
Slide 16: 2023 Compensation Program
2023 Compensation Program We expect our executive compensation program to normalize in fiscal 2023, and we remain committed to aligning executive compensation with performance that drives our business goals and the interests of our stockholders CEO 2023 Target Pay • Given the completion of the CEO s
Slide 17: Corporate Governance
Corporate Governance 17
Slide 18: Corporate Governance Highlights
Corporate Governance Highlights Committed to Best-in-Class Governance Independent Board Oversight Stockholder Rights and Board Structure Accountability • 12 of 13 Board members independent • More than 75% of the Company’s directors joined the Board after 2019 • Independent Board Chair • All director
Slide 19: Corporate Social Responsibility and ESG
Corporate Social Responsibility and ESG 19
Slide 20: ESG Governance Model
Multi-level operating structure to ensure alignment on most important issues and ability to drive resource decisions at the Governance: right level Board of Nominating & Governance Committee and full Board updates on the most important ESG trends, risks and opportunities Directors ESG Governance Exe
Slide 21: It Matters... ESG Priorities Aligned to Material Issues
It Matters... We’re shaping our vision for positive change and working on the actions to deliver against this. With dedication, heart and collaboration, together we aim to take care of the things that really matter – our people, communities and planet. ESG Priorities Aligned to Material Issues Produ
Slide 22: Our ESG Commitments
Our ESG Commitments We are proud to share our new near- and longer-term ESG commitments. Our commitments are intentionally ambitious yet grounded in where we are as a company today. We look forward to reporting on future progress toward these goals. As we move forward, we are reminded that ESG is a
Slide 23: Bath & Body Works' First ESG Report
Bath & Body Works’ First ESG report Released in April Report aligned to Global Reporting Initiative (GRI) Additional disclosures: • Sustainability Accounting Standards Board (SASB) • Task Force on Climate-Related Financial Disclosures (TCFD) 23