THE WHAT? L Brands has revealed that it has settled a lawsuit centred on workplace misconduct and agreed to sweeping workplace reforms, according to a report published by Bloomberg.
THE DETAILS As part of the agreement, the owner of Bath & Body Works will invest some US$90 million in diversity, equity and inclusion initiatives and form an advisory council to oversee them.
The suite of ‘corporate governance and management measures’ to be ushered in under the terms of the settlement includes bolstering policies against sexual harassment, and hiring a consultant.
THE WHY? After Founder Lex Wexner’s name was linked to Jeffrey Epstein’s in 2019, further allegations of sexual misconduct surfaced in February, 2020, Bloomberg reports. Wexner has since stepped down as CEO and these latest commitments will no doubt form an important part of the company’s rebrand.