BBRC International PTE Limited, which holds approximately 12.9% of Victoria's Secret & Co. shares, has publicly called for changes to the company's board of directors in a letter addressed to the board ahead of the shareholder meeting. BBRC, a long-term investor in the company since 2022, criticized the board's response to its attempts to discuss board representation and governance improvements. The firm is seeking the removal of the current long-tenured board chair and the appointment of a stockholder representative to enhance board oversight and restore investor confidence. BBRC stated that its proposals are aimed at improving decision-making and governance at Victoria's Secret & Co. and expressed frustration over what it described as an adversarial stance from the board.