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The Victoria’s Secret chair, Donna James , has been re-elected to the board of the lingerie company after surviving a push by a dissident shareholder, the Australian billionaire Brett Blundy , to have her removed.

James received 83% of all votes cast, according to Reuters , at the US company’s annual meeting held overnight.

Blundy, who is the second-biggest shareholder at Victoria’s Secret, with a near 13% stake through his investment firm BBRC International, has been pushing for changes at the company since about 2021.

He has previously sought a position on the board, and has built a stake that could be used as a platform to launch a hostile takeover.

The Monaco-based Australian has a net wealth of $4.5bn, according to the AFR ’s rich list, and is chair of the Lovisa jewellery brand, founder of the Léays lingerie stores and former owner of the Bras N Things and Honey Birdette brands.