default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

L Brands Founder Leslie Wexner to Step Down From Board

(L-R) Les Wexner and Ed Razek. Getty Images.

Victoria’s Secret-owner L Brands Inc said on Thursday chairman emeritus and former chief executive, Leslie Wexner, would not stand for re-election to the board at its shareholder meeting in May.

Wexner, 83, who bought Victoria’s Secret in 1982 and shaped its image by hiring supermodels to wear jewel-encrusted bras and wings at its annual fashion shows, stepped down as CEO last year after investor pressure.

Wexner has been in focus for his association with the late financier Jeffrey Epstein, who was entrusted with managing the billionaire’s personal finances and served as the trustee of his charitable foundation. Wexner has not been accused of criminal wrongdoing.

L Brands added Wexner’s wife, Abigail Wexner, would not stand for re-election and the company appointed two other independent members to its board.

By Aishwarya Venugopal; editor: Amy Caren Daniel.

In This Article

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Workplace & Talent
Unearth dysfunction and identify ways to boost the workplace, careers and management.

Discover the most exciting career opportunities now available on BoF Careers — including jobs from Tory Burch, Oysho and Simone Rocha.



With the cost of living crisis affecting both businesses and individuals, discussions about pay are a delicate but critical hurdle for employees to navigate today. BoF spoke to negotiation and compensation consultants, as well as industry professionals, on how to approach and prepare for these conversations.



view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
BoF Professional Summit - New Frontiers: AI, Digital Culture and Virtual Worlds - March 22, 2024
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
BoF Professional Summit - New Frontiers: AI, Digital Culture and Virtual Worlds - March 22, 2024