CEO of Victoria’s Secret’s Lingerie Division has Resigned

According to a person familiar with the situation who spoke to CNBC, the CEO of the lingerie division at Victoria’s Secet is stepping down.

The WSJ first broke the news that CEO Jan Singer, who has been with the company for two years, has resigned from the position and it has not been made clear yet if there is a replacement or who it will be.

Singer had previously worked at Spanx before moving to Victoria’s Secret and was aggressively trying to get new customers to the brand.

The company’s parent company L Brands is set to report quarterly earnings later this week and there may be more information on her departure then.

Shares of L Brands are down about 38 percent this year so far.

Disclaimer: We have no position in L Brands Inc. (NYSE: LB) and have not been compensated for this article.