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L Brands appoints two new independent directors

By Prachi Singh

Mar 18, 2021

Management

L Brands, Inc. has announced that Francis Hondal, president of loyalty and engagement at Mastercard, and Danielle Lee, Chief Fan Officer for the National Basketball Association, have been appointed as two new independent members of its board. Additionally, the company said, L Brands founder Les Wexner and Abigail Wexner will not stand for re-election to the board at the annual shareholders’ meeting in May 2021. With these changes, in May 2021, the board will consist of 10 directors, nine of whom are independent and six of whom are women.

Commenting on the development, Sarah Nash, Chair of the board, said: “Serving with Les has been an inspiration for all of us at L Brands. His thoughtful approach to developing brands and building dedicated and talented teams have enabled L Brands to evolve and succeed as a leading specialty retailer for nearly 60 years. I am so appreciative of everything that Les and Abigail have done to serve this board and L Brands’ stakeholders.”

L Brands appoints two independent directors

Francis Hondal, the company added, has more than 25 years of general management experience and is president of loyalty and engagement at Mastercard. She is a member of the company’s management committee and currently leads the development of products that enable exceptional consumer experiences through loyalty, rewards and performance-based marketing services for enterprises worldwide.

Previously, she was executive vice president of credit and loyalty, responsible for growing usage and preference of Mastercard branded products. Hondal enjoyed a 17-year career at American Express in global and regional roles within the consumer services division and has been recognized by Fortune amongst top Hispanic women in corporate America. She currently serves on the board of Equitable Holdings, a financial service holding company comprised of two complementary and well-established principal franchises, Equitable and AllianceBernstein. She is also a board observer for Flybits, a Canadian contextual marketing fintech, and serves on the board of the FIU Foundation.

The company further added that Danielle Lee is a strategic marketing executive with over 20 years of experience in brand building, media innovation and technology for some of the world’s most respected brands. She currently serves as Chief Fan Officer for the National Basketball Association where she oversees brand, creative and multiplatform fan marketing globally and is charged with elevating brand perception, cultural connection and fan engagement.

Prior to joining the NBA, Ms. Lee served for four years as global vice president, Partner Solutions at Spotify, where she was responsible for developing go-to-market strategy and growing global revenue across music, podcasts and high-impact digital experiences. Prior to Spotify, Lee served as global vice president, commercial marketing at Vevo and spent seven years at AT&T and served as vice president of product marketing and innovation for AT&T AdWorks after beginning her career at Showtime Networks.

“We are thrilled to welcome Francis and Danielle to the L Brands board. Their respective abilities to foster connections with consumers across in-person as well as digital channels will be invaluable as L Brands continues to execute its strategy and deliver engaging shopping experiences,” Nash added.

Image:L Brands resources