Things have turn into a bit unstitched at Stitch Fix.
Amid a slumping business, Elizabeth Spaulding has relinquished her role as the corporate’s chief executive officer and a member of the board of directors, effective Thursday. As well as, Stitch Fix said it is going to cut 20 percent of its salaried positions.
Founder and former CEO Katrina Lake has been named CEO, effective Thursday, and can serve in an interim capability for six months or until her successor is appointed, unless otherwise agreed by Lake and the board of directors.
“I sit up for stepping back in to steer the business and dealing closely with the board of directors to discover a successor going forward,” Lake said. “My fellow board members and...
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