(Bloomberg) — Les Wexner, the longest serving chief executive officer on the S&P 500 Index, is in talks to break up Victoria’s Secret owner L Brands Inc. and potentially step down from his role leading the company, according to a person familiar with the matter.Shares of L Brands surged as much as 15%, the most in eight months, in New York trading Wednesday. The Wall Street Journal reported earlier that founder Wexner may step down as CEO and sell Victoria’s Secret. Wexner may stay on as chairman, the Journal reported.The stock has posted four consecutive annual declines in value, including …read more
Source:: Yahoo Finance
