The company has released a memo sharing that the executive will retire.
, Leslie Wexner, the chairman and chief executive of L Brands, which owns Victoria's Secret, told staff in a memo that Razek wants to retire; he will retire at the end of this month,reported. News of his impending retirement comes as Victoria's Secret continues to embrace a new identity. In November, John Mehas was brought on board to serve as CEO, and with the hiringof a return to swimwear.
At the time of his hiring, Mehas did not address the comments made by Razek. The company released a statement welcoming Mehas, promised customers it was examining its "marketing, brand positioning, internal talent, real estate portfolio, and cost structure," and added that it is focused on its "merchandise assortment" to deliver "products and experiences that resonate with women around the globe.
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