(Reuters) – Victoria’s Secret-owner L Brands (LB.N) Chief Executive Officer Leslie Wexner is in talks to step aside from the role and is exploring strategic alternatives for the lingerie brand, the Wall street Journal reported on Wednesday.
The discussions are ongoing and could result in a full or partial sale of Victoria’s Secret, the WSJ reported, citing people familiar with the matter.
Shares of the company jumped 13% in premarket trading.
L Brands did not immediately respond to Reuters’ request for comment.
Reporting by Aishwarya Venugopal in Bengaluru; Editing by Anil D’Silva