People Moves

L Brands founder steps down from board

The group also announced that Danielle Lee, chief fan officer for the National Basketball Association, and Francis Hondal, president of loyalty and engagement at Mastercard have been appointed as two new independent members of its board of directors

Les Wexner, the founder of L Brands, has announced that he and his wife Abigail will not stand for re-election to the company’s board in May 2021. 

Wexner, who created the company in 1963, also stepped down from the role of chief executive last year, after a deal which would have seen private equity firm Sycamore Partners pay $525m (£376m) for a 55% stake of Victoria Secret was terminated.

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