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Moar on Wexner
Epstein Mentor Les Wexner Leaves L Brands, Sells 55% Stake In Victoria's Secret For $525 Million
Les Wexner is stepping down as chairman and CEO of L Brands as the company prepares to sell a 55% stake in its flagship brand, Victoria's Secret, to private equity firm Sycamore Partners for $525 million, according to a pair of reports from Bloomberg and WSJ.
Last month, we reported that Wexner, a longtime friend, benefactor and mentor to financier pedophile Jeffrey Epstein, was preparing to sell the company that he essentially built and led for decades.
Sources familiar with the talks told WSJ at the time that a full or partial sale of Victoria’s Secret was expected, as the company was finally giving up on turning around the struggling lingerie brand.
WSJ described the decision to give up control of Victoria's Secret was an acknowledgement that 82-year-old billionaire Wexner "couldn't revei the fortunes of a troubled lingerie brand he had built around shopping malls and sex appeal.
Three longtime board members, including L Brand’s lead independent director, will step down at the next annual meeting. Two other directors left last year amid pressure from an activist investor. Mr. Wexner, who owns a 17% stake, and his wife Abigail will keep seats on the board.
https://www.zerohedge.com/markets/epstein-mentor-les-wexner-leaves-l-brands-sells-55-stake-victorias-secret-525-million
New POTUS
New POTUS
John Kerry and Senator Chris Murphy grossly violated the Logan Act with respect to Iran. If a Republican did what they did, there would be very serious ramifications!