Lucy Brady
Bath & Body WorksAbout Lucy Brady
Lucy O. Brady is an independent director of Bath & Body Works, Inc. (BBWI), age 55, serving since 2023 and currently sits on the Human Capital & Compensation Committee and the Nominating & Governance Committee . She was President, Snacks & Grocery at Conagra Brands through February 2025, and previously held senior roles at McDonald’s (SVP Chief Digital Customer Engagement; SVP Corporate Strategy/BD/Innovation) and was a Managing Director & Senior Partner at Boston Consulting Group . Brady holds a B.A. in Economics from the Wharton School at the University of Pennsylvania and an MBA from Stanford Graduate School of Business .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Conagra Brands, Inc. | President, Snacks & Grocery | Jun 2022 – Feb 2025 | Led modernization and growth of ~$5B grocery/snacks portfolio . |
| McDonald’s Corporation | SVP & Chief Digital Customer Engagement | Jan 2020 – Apr 2022 | Oversaw delivery, loyalty, digital ordering/pickup, personalized communications . |
| McDonald’s Corporation | SVP Corporate Strategy, Business Development & Innovation | Sep 2016 – Jan 2020 | Corporate strategy and innovation leadership . |
| The Boston Consulting Group | Managing Director & Senior Partner | Prior to 2016 (noted) | Senior leadership; strategic advisory experience . |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| — | — | — | No other public company directorships disclosed for Brady in BBWI’s proxy . |
Board Governance
- Committee assignments: Member, Human Capital & Compensation Committee; Member, Nominating & Governance Committee .
- Committee activity: HCC met 7 times; Nominating & Governance met 4 times in fiscal 2024 .
- Independence: Board determined Brady is independent under NYSE standards; nine of ten nominees are independent .
- Attendance: Board held 6 meetings in fiscal 2024; all then-current directors attended at least 75% of Board and committee meetings on which they served .
- Executive sessions: Independent directors meet in executive session at every regular Board meeting .
- Leadership structure: Independent Chair; CEO and Chair roles separated by charter .
- Board refresh: If all nominees elected, 90% joined 2019 or later; average tenure 4.2 years .
Fixed Compensation
| Component (FY2024) | Amount ($) | Notes |
|---|---|---|
| Annual cash retainer | 100,000 | Standard director cash retainer (excluding Chair) . |
| HCC Committee membership retainer | 25,000 | Additional cash retainer for HCC membership . |
| Nominating & Governance Committee membership retainer | 20,000 | Additional cash retainer for NGC membership . |
| Total cash fees (Brady) | 145,000 | Reported fees earned/paid in cash for Brady . |
| Annual equity retainer (RSUs) | 147,033 | Grant date fair value for Brady; typical annual stock retainer was $150,000 for directors . |
| Vesting for director RSUs | — | RSUs vest one year from grant, subject to continued service . |
Performance Compensation
| Performance-linked component for directors | Metric details | Vesting/outcomes |
|---|---|---|
| None disclosed | Director equity is time-based RSUs (no PSU/option awards); no performance metrics tied to director compensation . | RSUs vest after one year . |
Other Directorships & Interlocks
- HCC Committee participation/interlocks: No HCC members were current/former BBWI officers; no reciprocal interlocks with other companies’ boards/compensation committees in fiscal 2024 .
- Related-person transactions: None reported in fiscal 2024 under the company’s related person transaction policy .
Expertise & Qualifications
- Omnichannel retail and consumer products leadership; corporate strategy; global digital strategy; customer loyalty/engagement .
- Executive business experience; governance experience as a public-company director nominee .
Equity Ownership
| Item | Value | Notes |
|---|---|---|
| Shares beneficially owned (Brady) | 4,527 | As of April 8, 2025 . |
| Shares outstanding | 213,007,116 | Record date April 8, 2025 . |
| Ownership as % of outstanding | ~0.0021% | Calculated from 4,527/213,007,116 using reported figures . |
| Pledged shares | None | Company states no pledging of stock by NEOs or Board members without approval; none pledged . |
| Director stock ownership guideline | 6x annual cash retainer by Oct 2028 | All directors either compliant or on track . |
Governance Assessment
- Board effectiveness and alignment: Brady is independent, serves on two key committees (HCC and NGC), and the Board maintains robust governance (independent Chair; executive sessions; active strategy and risk oversight) supporting investor confidence .
- Engagement and attendance: Committee meeting cadence (HCC: 7; NGC: 4) and Board attendance at ≥75% indicate active oversight; Brady’s committee membership aligns with human capital and governance priorities .
- Compensation alignment: Director pay is balanced cash plus time-based RSUs with one-year vesting; no performance-linked director awards that could misalign incentives; ownership guidelines (6x retainer) strengthen alignment .
- Conflicts/related parties: No related-person transactions; no compensation committee interlocks; hedging/short-selling prohibited and no pledging of director stock—reduces governance red flags .
- Shareholder sentiment: Say-on-pay approval of 96.05% in 2024 reflects general investor support for compensation governance, indirectly reinforcing board credibility .
RED FLAGS: None disclosed specific to Brady. No related-party transactions, no pledging, and independent status mitigate conflict risks .