Current Report Filing (8-k)

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION 

WASHINGTON, D.C. 20549

 

 

 

FORM 8-K

 

 

 

CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

 

Date of report (Date of earliest event reported): February 17, 2016 (February 12, 2016)

 

 

 

L Brands, Inc. 

(Exact Name of Registrant as Specified in Its Charter)

 

 

 

Delaware
(State or Other Jurisdiction of Incorporation)

 

1-8344	31-1029810
(Commission File Number)	(IRS Employer Identification No.)
Three Limited Parkway Columbus, OH	43230
(Address of Principal Executive Offices)	(Zip Code)

 

[phone]
(Registrant’s Telephone Number, Including Area Code)

 

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

 

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.

 

On February 12, 2016 the Company announced the resignation of Sharen Jester Turney as President and CEO of Victoria’s Secret. Leslie H. Wexner, Chairman and CEO of L Brands, has assumed leadership of Victoria’s Secret. Ms. Turney will be entitled to certain payments and benefits under Section 10(b) of her employment agreement, as previously disclosed in our annual proxy statements, and will continue in an advisory role.

 

A copy of the press release announcing Ms. Turney’s resignation is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit No.		Description
99.1		Release dated February 12, 2016

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

			L Brands, Inc.
Date:	February 17, 2016		By:	/s/ Stuart B. Burgdoerfer
				Name:	Stuart B. Burgdoerfer
				Title:	Executive Vice President and Chief Financial Officer

 

 

 

 

 

 

Exhibit 99.1

 

 

 

 

LES WEXNER TO ASSUME LEADERSHIP OF VICTORIA’S SECRET AFTER RESIGNATION OF CEO SHAREN JESTER TURNEY

 

Columbus, Ohio (Feb. 12, 2016) — L Brands, Inc. (NYSE: LB) today announced that Victoria’s Secret CEO Sharen Jester Turney has made the decision to resign. Turney has been with the company for nearly 16 years, joining as President and CEO of Victoria’s Secret Direct in 2000 and assuming responsibility for the brand as CEO in 2006. Leslie H. Wexner, Chairman and CEO of L Brands, will assume leadership of Victoria’s Secret. 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 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. “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.”

 

Turney stated, “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. 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 … a strong brand with great momentum. I take great satisfaction and pride in what our team has accomplished, including tremendous growth and the development of a world-class team.”

 

ABOUT L BRANDS:

 

L Brands, through Victoria’s Secret, PINK, Bath & Body Works, La Senza and Henri Bendel, is an international company. The company operates 3,005 company-owned specialty stores in the United States, Canada and the United Kingdom, and its brands are sold in more than 700 additional noncompany-owned locations worldwide. The company’s products are also available online at www.VictoriasSecret.com, www.BathandBodyWorks.com, www.HenriBendel.com and www.LaSenza.com.

 

ABOUT VICTORIA’S SECRET:

 

Victoria's Secret is the leading specialty retailer of lingerie and beauty products with modern fashion-inspired collections and prestige fragrances, celebrated Supermodels and world-famous runway shows. A business of L Brands (NYSE:LB), its more than 1,000 Victoria's Secret Lingerie and Beauty stores, www.VictoriasSecret.com and the catalogue allow customers to shop the brand anywhere and any time.

 

For further information, please contact:

 

L Brands
Investor Relations	Media Relations
Amie Preston	Tammy Roberts Myers
[phone]	[phone]
[e-mail]	[e-mail]