Ken Stevens, the CFO of Limited Brands, announced his retirement just two months after assuming the post.
The finance executive had spent five years overall with the retailing giant, known for its Victoria’s Secret and Bath & Body Works chains. Stevens, who officially became CFO on June 12, said in a company press release that he was retiring after more than 30 years in business to devote more time and attention to his family. He was not available for comment.
Martyn Redgrave, the company’s chief administrative officer, will assume the finance helm in addition to his current duties.
Before becoming CFO, he served as chief executive officer of Express, one of Limited Brands’ businesses. Before that he was president of Bath & Body Works, with responsibility for finance and planning, operations, store and field management, marketing, and brand merchandising.
“Ken’s reasons for leaving are personal, we support him in his choice and wish him well,” Leslie Wexner, the founder of the company in 1963 who now as its chairman and CEO, said in a press release.
In tapping Redgrave, Wexner cited the administrative chief’s “extensive financial experience” and knowledge of Limited’s business. Redgrave has been with Limited since February of 2005. He came to the company from Carlson Companies, Inc., where he served as executive vice president and CFO. He also spent 14 years in positions of increasing responsibility at PepsiCo, Inc., including serving as CFO for both Kentucky Fried Chicken and Taco Bell.