US lingerie brand Victoria's Secret is facing pressure from activist investor Barington Capital Group to replace its board of directors and rescind its recently adopted shareholder rights plan.

A scathing activist investor letter upends the annual investor meeting, a new CFO's agenda and the board's future.

Activist investor Barington Capital Group is pushing Victoria's Secret to alter its board and end a recently adopted "poison pill" plan, according to a letter to the lingerie maker's shareholders on Monday.