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L Brands (LB) - Get L Brands, Inc. Report shares fell Thursday after CNBC reported April Holt, executive vice president of stores at Victoria's Secret, is stepping down.

Holt has been with L Brands' lingerie division for more than 16 years. 

An L Brands spokesperson confirmed her move to CNBC. No reason for Holt's departure was indicated in the report. 

It's the latest in a string of management departures at the lingerie brand. Chief Marketing Officer Edward Razek resigned earlier this year.

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Victoria's Secret CEO Jan Singer resigned suddenly at the end of last year, CNBC said, and was succeeded by former Tory Burch President John Mehas.

L Brands' shares finished down 2% to $16.84 on Thursday. The stock is down 34% this year.