Victoria´s Secret CEO Quits Suddenly

Sharen Jester Turney has stepped down as CEO of Victoria's Secret after a decade at the helm. Turney, who is the second high-profile female executive to step down in as many months following the departure of Maureen Chiquet from Chanel, will hand over the reins of the lingerie company to Les Wexner - the CEO of L Brands Inc, which controls Victoria's Secret - while remaining an advisor in the meantime.

While it's said that the decision is for personal reasons, with Turney choosing to "prioritise my family and my personal life and consider what's next for me professionally", the move raises questions for the brand, which was an entirely different proposition when Turney took over in 2006. Turney was seen as the likely successor to Wexner, who is now 79, The Fashion Law reports, especially since she has successfully grown Victoria's Secret to a global powerhouse which raises around 60 per cent of L Brands's revenue single-handedly - with sales up 70 per cent in her tenure.

"We have strong confidence in the strength of the brand and our growth opportunities," Wexner said in a statement, "and I look forward to taking on a more active role and working with the talented leadership team at Victoria's Secret."