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."