Les Wexner news and archive

Les Wexner left owning 2 percent of L Brands

Billionaire Les Wexner, the founder of L Brands, the parent company of Victoria’s Secret and Bath and Body Works, is now left owning just 2 percent of the company he spent over fifty years building. The businessman’s recent sale of 2.2 billion shares, bringing his total disposal of shares to 2.7 billion dollars for this year, leaves him with...

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Business

Les Wexner sells L Brand shares

Les Wexner, the man who made his billions off of Victoria’s Secret, is selling 745 million dollars worth of shares in parent company L Brands Inc. This brings his stock sales from L Brands to 1.2 billion dollars for the year so far. The stocks are being sold off through a secondary offering managed by JPMorgan Chase & Co. as reported by...

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People

Les Wexner leaves Victoria's Secret

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...

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People

L Brands names Les Wexner's replacement

L Brands has said that board member Sarah Nash will be replacing Les Wexner as the chair of the board. The move will happen once L Brands closes on its deal to sell a majority of its stake in Victoria's Secret to Sycamore Partners. At which point, Wexner will step down as CEO of Victoria's Secret and assume a chair emeritus position. In addition...

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L Brands CEO accuses Jeffrey Epstein of misappropriating ‘vast sums of money’ from him

Leslie Wexner, the CEO and founder of L Brands, the owner of Victoria’s Secret, has accused Jeffrey Epstein of having “misappropriated” at least 46 million dollars from him while serving as his financial advisor. The claims against the accused child abuser and financier were detailed in a letter written by Wexner and addressed to the Wexner...