CEO of L Brands may step down from post, report says

The CEO of the parent company for Victoria's Secret, Bath & Body Works and other stores is in talks to step down from the top post, according to a media report.

The Wall Street Journal also said Wednesday that L Brands is considering strategic options for Victoria's Secret that could include a full or partial sale of the lingerie business, citing people familiar with the matter.

The newspaper said L Brands is seeking to reach a decision on succession plans and a possible Victoria's Secret transaction “in the coming weeks," but there's no guarantee a deal will be made.

Billionaire Leslie Wexner is the longest-serving CEO of a Standard & Poor's 500 company, having served as CEO for more than five decades. He founded what would eventually become L Brands in 1963 with one The Limited retail store, according to the company's website. Last year Wexner accused Jeffrey Epstein of misappropriating "vast sums" of his fortune while managing his personal finances more than a decade ago.

Representatives for L Brands Inc., based in Columbus, Ohio, didn't immediately respond to a request for comment.