In a move that took almost everyone by surprise, Victoria’s Secret CEO Sharen Jester Turney announced her resignation to spend more time with her family.
“After 16 years and a record fourth quarter at Victoria’s Secret, I have decided to prioritize my family and my personal life and consider what’s next for me professionally,” she said in a statement, according to USA Today.
Officially taking the reign at VS will be Leslie Wexner, CEO of the firm’s parent company L.Brands. Turney will remain on board as an advisor.
“We are very grateful to Sharen for her leadership and all that she has accomplished,’’ Wexner said in a statement. “Victoria’s Secret sales have increased more than 70 percent to $7.7 billion and profit has increased substantially during her nine years as CEO. … We have strong confidence in the strength of the brand and our growth opportunities, and I look forward to taking on a more active role and working with the talented leadership team at Victoria’s Secret.”
L. Brands has more than 3,000 company-owned specialty stores in its stable. It also owns Bath & Body Works and Henri Bendel.