Les Wexner to Assume Leadership of Victoria’s Secret After Resignation of CEO Sharen Jester Turney
13 February 2016 - 3:53AM
L Brands, Inc. (NYSE:LB) today announced that Victoria’s Secret CEO
Sharen Jester Turney has made the decision to resign. Turney
has been with the company for nearly 16 years, joining as President
and CEO of Victoria’s Secret Direct in 2000 and assuming
responsibility for the brand as CEO in 2006. Leslie H.
Wexner, Chairman and CEO of L Brands, will assume leadership of
Victoria’s Secret. Turney will continue to serve as an
advisor to the business.
“We are very grateful to Sharen for her
leadership and all that she has accomplished; Victoria’s Secret
sales have increased more than 70 percent to $7.7 billion and
profit has increased substantially during her nine years as CEO.
While she will be missed, we support her in her choice and wish her
well,” said Wexner. “We have strong confidence in the
strength of the brand and our growth opportunities, and I look
forward to taking on a more active role and working with the
talented leadership team at Victoria’s Secret.”
Turney stated, “After 16 years and a record
fourth quarter at Victoria’s Secret, I have decided to prioritize
my family and my personal life and consider what’s next for me
professionally. My years with Victoria’s Secret have been the most
exciting and rewarding years of my career. I leave the Victoria’s
Secret business well-positioned for the next chapter of growth … a
strong brand with great momentum. I take great satisfaction
and pride in what our team has accomplished, including tremendous
growth and the development of a world-class team.”
ABOUT L BRANDS:L Brands, through
Victoria’s Secret, PINK, Bath & Body Works, La Senza and Henri
Bendel, is an international company. The company operates
3,005 company-owned specialty stores in the United States, Canada
and the United Kingdom, and its brands are sold in more than 700
additional noncompany-owned locations worldwide. The
company’s products are also available online at
www.VictoriasSecret.com, www.BathandBodyWorks.com,
www.HenriBendel.com and www.LaSenza.com.
ABOUT VICTORIA’S SECRET: Victoria's Secret is
the leading specialty retailer of lingerie and beauty products with
modern fashion-inspired collections and prestige fragrances,
celebrated Supermodels and world-famous runway shows. A business of
L Brands (NYSE:LB), its more than 1,000 Victoria's Secret Lingerie
and Beauty stores, www.VictoriasSecret.com and the catalogue allow
customers to shop the brand anywhere and any time.
For further information, please contact:
L Brands
Investor Relations
Amie Preston
(614) 415-6704
apreston@lb.com
Media Relations
Tammy Roberts Myers
(614) 415-7072
communications@lb.com
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