L Brands founder Leslie Wexner will step down from the Board, and Permanently Leave Victoria’s Secret

Bessie LiuPeople on the Move
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L Brands founder Leslie Wexner will step down from the Board, and Permanently Leave Victoria’s Secret. Image Source: Shutterstock.

L Brands Chairman Emeritus and former CEO Leslie Wexner, and his wife, Abigail Wexner, will leave the L Brands board. They will not stand for re-election in the shareholders meeting in May.

The man behind Victoria’s Secret’s initial success has been under controversy for his relationship with Jeffery Epstein, which forced him to step down as CEO last year.

“Now is an ideal time for Abigail’s and my transition from the Board. When I retired from the business last year,” Wexner said in a statement. “I am deeply honoured to have been a part of the lives of so many associates and customers since I first opened the doors in 1963.”

Wexner and his wife will be replaced by Francis Hondal, President, Loyalty and Engagement at Mastercard and Danielle Lee, the Chief Fan Officer for the National Basketball Association.

Hondal has been with Mastercard since 2011, prior to joining the company she was a Regional Vice President & General Manager at American Express. She has been named by Fortune magazine to be among the top Hispanic women in corporate America.

Lee has over 20 years experience in strategic marketing. Before joining NBA, Lee was the Global Vice President, Partner Solutions at Spotify, she has also served as Global Vice President, commercial marketing at Vevo.

“We are thrilled to welcome Francis and Danielle to the L Brands Board,” Sarah Nash, Chair of the Board at L Brands said. “The appointments of these two highly talented individuals reinforce the Board’s commitment to ensuring we have a diverse and qualified board with the right skillsets and backgrounds to drive value for shareholders and effectively guide the company through the planned separation and beyond.”

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