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Authentic Leadership: On Stitch Fix s Katrina Lake
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Stitch Fix CEO Transition: What Investors Need To Know
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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
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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