Les Wexner

Kimberly Redmond | |

Les Wexner is stepping down from the board of directors at L Brands Inc (NYSE: LB), the company he founded in 1963 and grew into a retail empire.

On Thursday, L Brands, the parent company of Victoria’s Secret, Bath & Body Works and Pink, said Wexner, 83, and his wife, Abigail, will not stand for reelection to the board at the annual shareholders’ meeting in May.