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L Brands founder Leslie Wexner to not stand for board re-election

March 18, 2021 at 08:18 am EDT

(Reuters) - Victoria's Secret-owner L Brands Inc said on Thursday chairman emeritus and former chief executive officer, Leslie Wexner, would not stand for re-election to the board at its shareholder meeting in May.

Wexner, 83, who bought Victoria's Secret in 1982 and shaped its image by hiring supermodels to wear jewel encrusted bras and wings at its annual fashion shows, stepped down as CEO last year after investor pressure.

Wexner has been in focus for his association with the late financier Jeffrey Epstein, who was entrusted with managing the billionaire's personal finances and served as the trustee of his charitable foundation. Wexner has not been accused of criminal wrongdoing.

L Brands added Wexner's wife, Abigail Wexner, would not stand for re-election and the company appointed two other independent members to its board.

(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Amy Caren Daniel)

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Leslie Wexner

Leslie Herbert Wexner is an entrepreneur and businessperson who founded L Brands, Inc., The New Albany Co. LLC and Limited Stores LLC and who has been at the helm of 6 different companies. He is Chairman for The Ohio State University Wexner Medical Center. Mr. Wexner is also on the board of L Brands, Inc. (former Chairman & Chief Executive Officer), The Ohio State University, Columbus Jewish Foundation and Columbus Jewish Federation and Chairman at The Columbus Partnership, Member of American Academy of Arts & Sciences, Member-International Council at The Royal Shakespeare Co. and Member-Advisory Board at John Glenn School of Public Affairs. He previously held the position of Chairman & Chief Executive Officer for Limited Stores LLC, Chairman at Intimate Brands, Inc. and Chairman of Ohio State University Foundation. He received an undergraduate degree from The Ohio State University.

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The Ohio State University Wexner Medical Center The Ohio State University Wexner Medical Center Medical/Nursing ServicesHealth Services The Ohio State University Wexner Medical Center provides healthcare services. It offers health and wellness services, health care services such as allergy immunology care, arthritis rheumatology, brain and spine, orthopedics, palliative care, transplant center and wound healing. The company was founded in 1834 and is headquartered in Columbus, OH.	Chairman

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