VS will be torn down to the studs. Executives will be replaced and the "brand ambassadors" will be sacked. I think VS has too much cache to go away completely. There are some business savvy ex-angels that could probably run the brand really well because they understand the business. Maybe it's wishful thinking.
I have no doubts that Woody will maximize her talent and put her in position shine. I'm a huge fan of his work and have seen every film he's directed.
This is quite a thrill for me--- my favorite director may cast my favorite supermodel