L Brands long-time CFO Stuart Burgdoerfer to retire in August

L Brands Inc, owner of Victoria’s Secret and Bath & Body Works, said on Thursday that Chief Financial Officer Stuart Burgdoerfer will retire in August after more than 14 years on the job.

The Columbus, Ohio-based company also said it was aiming to complete the separation of its Victoria’s Secret and Bath & Body Works businesses by August and Burgdoerfer will continue to oversee the split.

All options, including a spin-off of the Victoria’s Secret business into a public company or a private sale of the business, were being evaluated, L Brands said.

Burgdoerfer, who is also stepping down from the position of interim chief executive officer of the Victoria’s Secret unit, will be succeeded by the lingerie business head Martin Waters, effective immediately.

The company said it has initiated the search for a new financial chief.

Prior to his 14-year stint as the finance chief, Burgdoerfer started out in L Brands as an executive vice-president in 1998.

Separately, L Brands also raised its forecast for current quarter profit to $2.95 to $3.00 per share from $2.70 to $2.80 after reporting upbeat sales for the holiday season, sending shares up nearly 4% on Thursday.