Bath & Body Works Adds Third Point Director, Avoids Proxy Fight

Bath & Body Works Inc., which was on the verge of a proxy battle with Third Point LLC, has appointed a director nominated by the activist investor.

Third Point informed Bath & Both Works that it no longer plans to nominate additional board members at its annual meeting following the appointment of Thomas Kuhn, which was the result of “continued engagement” with the firm, according to a statement Monday.

The hedge fund run by Daniel Loeb recently recommended Kuhn as an additional candidate after previously nominating Lucy Brady, president of grocery and snacks at Conagra Brands Inc. ...