- Warren Buffett could soon become the S&P 500’s most veteran CEO.
- Buffett has led Berkshire Hathaway for 50 years, second only to Lee Wexner’s tenure at L Brands.
- Wexner is reportedly in talks to resign after his ties to Jeffrey Epstein drew intense scrutiny.
- The Victoria’s Secret billionaire was also accused of sizeism and demeaning women in a New York Times exposé.
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Warren Buffett could soon become the longest-serving CEO of a S&P 500 company.
Les Wexner is the current holder of the title, given his tenure of 57 years as CEO of L Brands. However, the Victoria’s Secret billionaire is considering stepping down, The Wall Street Journal reported last week. If he follows through, Buffett – who has helmed Berkshire Hathaway since 1970 – would become the most veteran S&P 500 CEO.
Buffett has a good chance of taking the crown, as Wexner is under mounting pressure to resign.
Wexner has faced intense scrutiny in recent months for his ties to convicted sex offender Jeffrey Epstein, who managed his fortune for nearly 20 years and posed as a recruiter for Victoria’s Secret models, The New York Times reported. The revelations led the billionaire to say he deeply regretted their relationship and describe Epstein as “so sick, so cunning, so depraved.”
Moreover, the Times recently published an exposé describing a culture of misogyny inside Victoria’s Secret. The story included accusations of Wexner demeaning women and dismissing the shift towards more inclusive sizing in the fashion industry. A spokesman for Wexner declined to comment to the newspaper.
Buffett’s tenure has already lasted longer than even he expected. The billionaire investor predicted in 2007 that he would live around 12 more years, adding that, “Naturally, I’m aiming for more.”