Short Answer
Les Wexner stepped down as chairman and CEO of L Brands in February 2020, ending nearly six decades at the helm of the company he built. He attributed the timing partly to the reputational damage from his association with Epstein, alongside broader business challenges.
In Detail
Les Wexner’s departure from L Brands in early 2020 came after months of escalating scrutiny sparked by Epstein’s 2019 arrest and death. The connection between Wexner — America’s longest-serving Fortune 500 CEO at the time — and a convicted sex trafficker who had once controlled his finances raised questions that neither investors nor board members could easily dismiss.
L Brands and the Business Fallout
L Brands, parent of Victoria’s Secret and Bath & Body Works, had already been facing declining sales and brand problems before the Epstein connection became front-page news. The Epstein revelations added reputational pressure on top of existing business challenges. In 2020 Wexner struck an agreement with the private equity firm Sycamore Partners to spin off Victoria’s Secret; that deal later fell apart, and Victoria’s Secret was eventually spun off separately in 2021, with Wexner’s successor running the company.
The Wexner Foundation
The Wexner Foundation, which runs significant leadership programs for Jewish communities and Israeli public figures, issued statements distancing the foundation from Epstein after the 2019 arrest. Wexner himself sent a letter to foundation alumni acknowledging he had been deceived by Epstein and cutting ties definitively.
Public Statements
Wexner testified partially in civil proceedings and gave limited media statements. He consistently maintained he had been victimized by Epstein, noting the $46 million misappropriation. He has not testified publicly under oath about the full scope of the financial relationship or the circumstances of the initial power of attorney.
Life After L Brands
Since stepping down, Wexner has remained active in Columbus, Ohio, in philanthropy and real estate. He has kept a substantially lower public profile than in previous decades.