Victoria’s Secret’s biggest problem may be L Brands leadership

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L Brands, the owner behind the struggling Victoria’s Secret brand, needs to do more than reshuffle a few board seats to convince investors it’s ready for a comeback, critics say.

L Brands said late Thursday that it will add two new “independent” directors to the company’s board following criticisms that the previous 12-person board had been largely comprised of cronies of founder Les Wexner.

But the stock barely moved on the news in late trading — and critics continue to say the biggest problem is Wexner himself.

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