The hedge fund also suggested that the role of chairman and chief executive officer be held by separate individuals, an increasingly popular demand by activist investors who feel it would help companies run better. In a letter to L Brands' chairman Leslie Wexner, Barington said the "true potential" of Bath & Body Works had not been realized because of years of weak performance at Victoria's, stemming from a failure to maintain a strong brand image and missteps with merchandising. Barington did not disclose the size of its ownership stake in L Brands. It did not immediately respond to emails seeking details. Shares in L Brands rose as much as 6 percent on Tuesday, having fallen last week after reporting poor quarterly results. L Brands said in a statement it welcomed open communication with shareholders and "values input that may advance our goal of enhancing shareholder value."