Victoria’s Secret CEO Sharen Jester Turney Quits After A Decade At The Head Of The Lingerie Brand


By: Erica Tempesta for  Please click here to read the entire original story.

The CEO of Victoria’s Secret has abruptly resigned after nearly a decade at the helm of the popular lingerie brand.

Sharen Jester Turney, who has been the CEO of Victoria’s Secret since 2006, but has worked within the company since 2000, said the reason for her sudden departure was because of a desire to spend more time with her family.

‘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,’ the 58-year-old, who is thought to have been earning more than $10 million a year, said in a statement released on Friday.

‘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,’ she continued.

‘I take great satisfaction and pride in what our team has accomplished, including tremendous growth and the development of a world-class team.’

Sharen, who grew up in Ardmore, Oklahoma, has been married to her husband Charles for more than 25 years. The couple have a 21-year-old son, Matthew, a student at Southern Methodist University in Dallas, who spent the summer as an investment banking summer analyst at Citi.

She will hand over control of the lingerie company to Les Wexner, the CEO of Victoria’s Secret’s parent company L Brands Inc.

The suddenly-departed CEO, who was hand-picked by Les to become head up Victoria’s Secret a decade ago, will remain an adviser for the company’s largest division while the 79-year-old assumes leadership.

Sharen’s decision to leave the brand in order to spend more time focusing on her family comes two and a half years after the former CEO was accused of having a two-year-long extra-marital affair with real estate broker Cliff Donenfeld between 2008 and 2010.

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