L Brands Confirms Les Wexner to Step Down as CEO
It will occur after the closing of Victoria's Secret sale
L Brands has confirmed Les Wexner will step down as chairman and chief executive officer of the company after the closing of the sale of Victoria's Secret.
The company said a 55 percent interest of Victoria’s Secret will be sold to Sycamore Partners, which is a private equity firm.
L Brands will control 45 percent of Victoria's Secret.
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