Les Wexner facts for kids
Quick facts for kids
Leslie Herbert Wexner
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Wexner in 2004
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| Born |
Leslie Herbert Wexner
September 8, 1937 Dayton, Ohio, U.S.
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| Other names | Les Wexner |
| Education | Ohio State University (BBA) |
| Occupation | Businessman |
| Political party | Republican (before 2018) Independent (since 2018) |
| Spouse(s) |
Abigail S. Koppel
(m. 1993) |
| Children | 4 |
Leslie Herbert Wexner (born September 8, 1937) is an American businessman. He is known for founding and leading several popular retail companies. He co-founded and is now the chair emeritus of Bath & Body Works, Inc.. He also played a key role in companies like Abercrombie & Fitch, Victoria's Secret, and La Senza.
Contents
Early Life and Education
Leslie Wexner was born in Dayton, Ohio, on September 8, 1937. His parents were Bella and Harry Louis Wexner. He has a younger sister named Susan.
He went to Bexley High School and then to Ohio State University. In 1953, he won an award for an essay he wrote about his faith. He studied business administration and graduated in 1959. While in college, he was part of the Sigma Alpha Mu fraternity. He also served in the Air National Guard.
Building a Retail Empire
Leslie Wexner started his career helping at his parents' clothing store. He noticed which items sold well and which didn't. When his father didn't want to change the store's inventory, Leslie decided to open his own business.
In 1963, with a loan from his aunt and a bank, he opened "The Limited". This store focused on affordable clothes like skirts and sweaters. The first store opened on August 10, 1963, in the Kingsdale Shopping Center in Upper Arlington, Ohio. A year later, his parents closed their store and joined him. In 1969, his company, Limited Brands, became a public company on the NYSE.
Leslie Wexner learned a lot from A. Alfred Taubman, a mentor who owned many shopping malls. They worked together on several business projects.
Throughout the 1970s, The Limited grew quickly. By 1976, there were 100 stores. In 1978, he bought Mast Industries, which helped his business by importing goods.
In 1982, Wexner bought Lane Bryant, a clothing chain for plus-sized customers. He also acquired Victoria's Secret, a clothing business, from its founder, Roy Raymond. By 1992, Victoria's Secret was very successful and known for its popular fashion shows.
Over the years, Wexner built L Brands, a large group of retail companies. This group included Victoria's Secret, Pink (a brand for teens), Bath & Body Works, and La Senza. Other brands like Abercrombie & Fitch and Lane Bryant were also part of his company at different times.
In 2012, CNN Money recognized Wexner as one of the longest-serving CEOs of a major company. He was also listed among the top-performing CEOs globally in 2015 and 2016. In February 2020, he stepped down as CEO of L Brands and became the chair emeritus.
Serving on Company Boards
Leslie Wexner also served on the boards of directors for several other organizations. These included Banc One and Hollinger International. He was also on the boards of Sotheby's, the American Ballet Theatre, and the Whitney Museum of American Arts.
Philanthropy and Community Support
In 1989, Leslie Wexner and his mother Bella made a large donation to the United Way. Their names are honored at the United Way Headquarters.
Forbes magazine listed Wexner in 2017 as one of the wealthiest people from Ohio. He has been a major supporter of the Wexner Center for the Arts at the Ohio State University, which is named after his father.
In 1985, he helped create the Wexner Foundation's first program. This program aims to educate Jewish community leaders about their history and traditions.
In 1991, with Charles Bronfman, Wexner formed the Study Group, also known as the Mega Group. This group brought together wealthy business leaders interested in Jewish issues. They inspired many charitable projects, including Birthright Israel.
Wexner served on the Board of Trustees of Ohio State University for many years. In 2009, he was elected chair.
On May 11, 2004, Wexner received the Woodrow Wilson Award for Corporate Citizenship. This award recognized his contributions as a business leader.
On February 16, 2011, Wexner pledged a donation of $100 million to Ohio State University. This was the largest gift in the university's history. It supported the academic Medical Center, James Cancer Hospital, and the Wexner Center for the Arts.
Through the L Brands Foundation, Wexner and his company have given $163.4 million to the Columbus Foundation.
On February 10, 2012, Ohio State University renamed its Medical Center to the Ohio State University Wexner Medical Center. This honored Leslie Wexner's long-standing support and leadership at the university.
Personal Life
Leslie Wexner has mentioned that he sometimes had trouble sleeping. On January 23, 1993, he married Abigail S. Koppel, who is an attorney. They have four children together.
Wexner lives in New Albany, Ohio, in a large estate built in 1990. This estate used to host an annual equestrian show called the New Albany Classic. The event raised money for The Center for Family Safety and Healing. In 2018, the event ended.
He also owns Foxcote House, a historic home in England. In 2010, he was made an honorary member of the Sphinx Senior Class at Ohio State University.
Political Activities
In May 2008, George W. Bush asked Wexner to join an honorary group traveling to Jerusalem. This trip was to celebrate the 60th anniversary of the State of Israel.
Wexner hosted a fundraiser in 2012 for Mitt Romney. He also donated to a group supporting Jeb Bush's presidential campaign in 2015.
In September 2018, The Columbus Dispatch reported that Wexner changed his political affiliation. He decided to become an Independent instead of a Republican.
See also
Images for kids
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