Leslie Wexner has taken another step to unwind his connection to the retailer he founded in 1963.
Wexner sold 3.05 million shares of L Brands, according to a regulatory filing. The shares were sold this week by entities controlled by Wexner and his wife, Abigail, for $58.31 apiece, or a total of $177.8 million.
The sale follows last week's announcement that the Wexners will not stand for re-election to the company's board at this spring's annual meeting.
Wexner stepped down as chairman and CEO a year ago of the company that operates Victoria's Secret and Bath & Body Works after reports of his connections to convicted sex predator Jeffrey Epstein and a toxic culture of misogyny at Victoria's Secret.
Before last week's announcement, regulatory filings showed the Wexners and entities own 15.9% of L Brands shares.
After the sale, they'll still control more than 10% of L Brands stock.
