Victoria’s Secret CEO Sharen Turney resigns

L Brands has announced that Victoria’s Secret CEO Sharen Jester Turney has decided to resign after about 16 year-long career with the company. She had joined as President and CEO of Victoria’s Secret Direct in 2000 and assumed responsibility for the brand as CEO in 2006. Leslie H. Wexner, Chairman and CEO of L Brands will now shoulder leadership responsibility of Victoria’s Secret, while 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 more than 70 percent to 7.7 billion dollars 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.

“After 16 years and a record fourth quarter at Victoria’s Secret, I have decided to prioritise my family and my personal life and consider what’s next for me professionally. My years with Victoria’s Secret have been the most exciting and rewarding years of my career. I leave the Victoria’s Secret business well-positioned for the next chapter of growth,” added Turney.