Les Wexner leaves Victoria's Secret
May 15, 2020
It's official, Les Wexner is now out at Victoria's Secret. The controversial executive first announced he would be departing the company back in February and now he has officially left for good.
Wexner announced his retirement during a virtual investor meeting for L Brands, the parent company of Victoria's Secret and Bath & Body Works. In February L Brands announced that Wexner would be phased out as the brand's CEO and chairman of the board when it was announced that Victoria's Secret would be sold.
However, Victoria's Secret will no longer be acquired and will now be spun off into its own company. Victoria's Secret's relevance has been questioned for years as the viewership of the Victoria's Secret fashion show continued to decline and their sales were in a free fall. With most malls still closed and retailers only offering curbside pick-up for customers, Victoria's Secret which is mostly found in malls, can expect to be struggling for a while.