Also announces CFO stepping down
Specialty retailer plans to open 90 such units and close 50 mall locales in coming year
Board chair Sarah Nash will take the helm on an interim basis
L Brands will shed its name and become part of the Bath & Body Works banner.
Spin-off plan aims to net higher valuation.
Wexner will not stand for re-election to the company’s board at its annual shareholders meeting in May.
