“Today is the start of a crucial new chapter in the advancement of the business,” Wexner stated in an email to staff members.
Allan Tessler, who helped work out the shift, called Wexner “a retail legend who has built extraordinary brands that are family names around the globe” in a press release from the business.
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In August, Epstein passed away by suicide in a New York City jail cell. He was 66 and he had been arrested on July 6 and charged with sexually abusing lots of underage girls at his houses in New York and Florida in the early 2000s.
“Being taken benefit of by someone who is … so base is something I’m embarrassed I’m even close to,” Leslie Wexner said in a September interview about his relationship with Epstein. “In the present, everyone has to feel massive regret for the advantage that was taken of many girls.”
Victoria’s Secret honcho Leslie Wexner stepped down Thursday as chairman and CEO of the retail giant he began six years ago, his reputation as a visionary entrepreneur rattled by his veteran relationship with sexual predator Jeffrey
Epstein. Wexner, 82, will hold the title of chairman emeritus once the sale of a majority stake in L Brands, which likewise includes PINK and Bath & & Body Works, to Sycamore Partner is completed.
The Wexners have denied playing any role in the alleged attack and insisted they cut ties with Epstein in 2007 after the very first claims appeared that he was trafficking in and sexually abusing girls.
Asked if Wexner’s departure from the everyday management of L Brands was related to the Epstein scandal, a Wexner representative referred a press reporter to the business’s interactions department.
An L Brands spokeswoman highlighted the part of the company news release which says “the choice to take this action comes after thorough and thoughtful assessment by our Board of the opportunities available to drive long-term value for partners, partners and investors.”
Epstein had actually been Wexner’s cash supervisor and their relationship was so close that the retail mogul offered him power of lawyer and made him a trustee of the Wexner Foundation.
Wexner and his spouse, Abigail, are two of Ohio State University’s biggest benefactors. His modification of status came 10 days after 5 previous OSU wrestlers who implicated their university of failing to safeguard them from a predator team physician formally requested an investigation into the school’s relationship with Epstein.
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