Dan Loeb’s Third Point, which first disclosed a stake of more than 6% in Bath & Body Works in December, plans to launch a proxy fight to address what the activist investor says is excessive executive pay and lagging financial performance at the soap and fragrance maker, reported The Wall Street Journal’s Laura Cooper, citing people familiar with the matter. The firm plans to nominate candidates to the company’s board, including at least one shareholder representative, but hasn’t yet determined which directors it will aim to replace, the report said. Reference Link
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