- 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.”