Billionaire Leslie Wexner is reportedly looking to step down as the chief executive officer of his company L Brands Inc. (NYSE: LB) and sell his stake in the subsidiary brand, the Victoria's Secret.
L Brands is in talks with New York-based private equity firm Sycamore Partners for a partial or complete sale of Victoria's Secret brand, the Wall Street Journal reported Tuesday.
According to the Journal, Wexner, who has led the company for nearly six decades, could be stepping down because of the mounting pressure over the declining salse of his former close relations with now-deceased financier Jeffrey Epstein.
"We're not going to comment on such rumors," an L Brands spokeswoman told multiple news outlets who asked …
Full story available on Benzinga.com