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

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

Newsy

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Watch VideoL Brands, Inc., which owns Victoria's Secret, announced on Thursday that its CEO is stepping down and will sell a majority of the lingerie company.

Leslie Wexner is selling 55% of Victoria's Secret to private-equity firm Sycamore Partners for a $525 million. L Brands will still own a 45% stake in the brand.

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