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Stitch Fix CEO Transition: What Investors Need To Know

Stitch Fix : founder steps down as CEO, president to take over

Message : Required fields April 13 (Reuters) - Stitch Fix Inc said on Tuesday founder Katrina Lake would hand over the reins to the online apparel firm to President Elizabeth Spaulding, who is set to replace her as chief on Aug. 1. The personalized clothing provider said Lake would transition to the role of executive chairperson of the board. Shares in Stitch Fix declined about 2% in extended trading. Spaulding spent more than two decades at consultancy Bain & Co before joining Stitch Fix as president last year, with her current role involving improving shopping experiences and expanding the company s international presence. The compelling future vision she s (Spaulding) mapped out

Stitch Fix founder to step down as chief executive

Dive Brief: In a move that speaks volumes about its approach to growth, Stitch Fix on Tuesday announced that on Aug. 1, President Elizabeth Spaulding will become CEO, replacing founder Katrina Lake. Spaulding joined the company early last year from management consulting firm Bain & Co., where she was a partner. Her focus has been on growth, including inventory management, international expansion and developing the next generation of consumer shopping experiences, the company said. Lake will become the board s executive chairperson, according to a company press release. She will also remain an employee, focusing on Stitch Fix s social impact efforts, in particular the intersection between sustainability and technology in apparel retail.

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