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Limited: Les Wexner To Assume Leadership Of Victoria’S Secret After Resignation Of Ceo Sharen Jester Turney

The following excerpt is from the company's SEC filing.

Columbus, Ohio (Feb. 12, 2016) — L Brands, Inc. (NYSE: LB) today announced that Victoria’s Secret CEO Sharen Jester Turney has made the decision to resign. Turney has been with the company for nearly 16 years, joining as President and CEO of Victoria’s Secret Direct in 2000 and assuming responsibility for the brand as CEO in 2006. Leslie H. Wexner, Chairman and CEO of L Brands, will assume leadership of Victoria’s Secret. Turney will continue to serve as an advisor to the business.

“We are very grateful to Sharen for her leadership and all that she has accomplished; Victoria’s Secret sales have increased mor e than 70 percent to $7.7 billion and profit has increased substantially during her nine years as CEO. While she will be missed, we support her in her choice and wish her well,” said Wexner. “We have strong confidence in the strength of the brand and our growth opportunities, and I look forward to taking on a more...