The CEO Of Victoria's Secret's Parent Company Is Stepping Down

Victoria's Secret CEO Leslie Wexner is stepping down and selling 55% of the company to Sycamore Partners for $525 million, while L Brands retains a 45% stake. The strategic move aims to revitalize the brand amid declining sales and competition from inclusive brands like Savage X Fenty. The company has faced criticism for lack of diversity and allegations of a toxic work culture. Wexner's ties to Jeffrey Epstein have also drawn scrutiny. Post-sale, Wexner will become chairman emeritus.

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