The newspaper said L Brands is seeking to reach a decision on succession plans and a possible Victoria’s Secret transaction “in the coming weeks,” but there’s no guarantee a deal will be made.
Wexner is the longest-serving CEO of a Standard & Poor’s 500 company, having served as CEO for more than five decades. He founded what would eventually become L Brands in 1963 with one The Limited retail store, according to the company’s website. Last year Wexner accused Jeffrey Epstein of misappropriating “vast sums” of his fortune while managing his personal finances more than a decade ago.
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