Bath & Body Works Names Former Nike Executive Daniel Heaf As New CEO

Bath & Body Works (BBWI), on Monday, named former Nike executive Daniel Heaf as its new CEO, replacing Chief Executive Gina Boswell, effective immediately.

BBWI stock was down 1.48% at the time of writing.

Heaf was previously Nike’s chief strategy and transformation officer, but his position was eliminated as part of the company’s transformation efforts under CEO Elliot Hill.

The former Nike executive replaces Boswell, who led Bath & Body Works during the post-pandemic period and turned it profitable.

Boswell had gone on a leave of absence to undergo surgery. Neither the former CEO nor Bath & Body Works had previously indicated that she would be stepping down.

In a March filing with the U.S. Securities and Exchange Commission (SEC), the company noted that Boswell would be on a “temporary absence to undergo a scheduled surgery.”

In her letter to the company, Boswell had said she expected to be out for up to four weeks, after which she would work remotely for a few more weeks. “I look forward to returning to the office soon,” she said at the time.

Bath & Body Works also announced its preliminary first-quarter (Q1) results before its release date of May 29.

The personal care retailer posted earnings per share (EPS) of $0.49 in Q1, topping Street expectations of $0.42, and rising from $0.38 in the same period a year ago.

Its revenue for the quarter stood at $1.42 billion, in line with the consensus estimate and growing 3% year over year.

The company also declared a dividend of $0.20 per share, payable on June 20, 2025, to shareholders on record as of June 6, 2025.

It maintained the full-year 2025 sales guidance of 1% to 3% growth, and $3.25 to $3.60 earnings per share.

“First quarter 2025 sales were at the high end of the guidance range, and earnings per share exceeded the high end of the guidance range,” the company said in its filing.

Bath & Body Works’ stock has declined nearly 14% year-to-date.

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