Les Wexner’s choice to part methods with Victoria’s Secret is an admission that the 82- year-old billionaire could not revive the fortunes of a struggling underwear brand he had actually developed around shopping center and sex appeal.
On Thursday, he consented to offer a managing stake in the chain to private-equity company Sycamore Partners for $525 million and step down from his roles as chairman and president of its moms and dad company, L Brands Inc. The Wall Street Journal had actually previously reported on the relocations.
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source https://jobsearchtips.net/les-wexner-quits-control-of-victorias-secret/
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