Les Wexner, the longtime founder and chief executive of L Brands—the retail company that once owned Victoria’s Secret and Bath & Body Works—began stepping back from day-to-day leadership amid mounting scrutiny over his connection to Jeffrey Epstein. In February 2020, after nearly six decades at the helm, Wexner announced he was resigning as CEO of L Brands and transitioning to chairman emeritus, as the company pursued a restructuring that included selling a majority stake in Victoria’s Secret to private equity. Although company statements framed the change as part of a broader corporate evolution, it came against the backdrop of growing public criticism of Wexner’s long friendship and financial relationship with Epstein, who had once served as his personal advisor and money manager.


Wexner’s departure from operational leadership was followed by further distancing from the company: in March 2021, both he and his wife, Abigail, announced they would not seek reelection to L Brands’ board of directors, effectively ending his formal role in governance after nearly six decades. While Wexner and his representatives have repeatedly denied that his resignation was directly caused by the Epstein controversy, critics and some investors saw the timing and cumulative pressure over the Epstein ties—and internal culture criticisms at Victoria’s Secret—as key factors in his exit from the company he built.


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