An activist investor says the board of Victoria's Secret lacks independence from CEO Leslie Wexner, who has run the company for more than five decades
Activist investor argues board lacks independence from CEO Leslie Wexner, who has run the company for more than five decadesFor decades, Leslie Wexner has run Victoria’s Secret and his retail empire with a close-knit group of directors. But amid scrutiny of the board’s ties to the 81-year-old billionaire, the company is preparing to bring in some fresh blood.
L Brands Inc. has retained a search firm to look for three new board candidates, according to people familiar with the matter. The company is looking to increase its board diversity and aiming to replace some directors at its May annual meeting, they said.
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