source: Shutterstock

Lake, who founded NASDAQ-listed Stitch Fix in 2011 assumes the position of interim CEO on 5 January, following the departure of Spaulding who said the company continues to embark on an ambitious transformation and needed a new leader to help support this phase.

“Stitch Fix continues to embark on an ambitious transformation and in the immediate term, the focus for the team is squarely on creating a leaner, more nimble organisation to set the company up for a return to profitability,” Spaulding said.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

“First as president and then as CEO, it has been a privilege to lead in an unprecedented time, and to chart the course for the future with the Stitch Fix team. It is now time for a new leader to help support the next phase. With that context, the board and I have made the difficult decision that I will step down as CEO. I am proud of the new leadership team we have built, the evolution in culture we’ve created, and the products we’ve shipped. More than anything, it is a privilege to serve our clients and create many delightful moments in their lives.”

Lake will be in the CEO role for six months or until her successor is appointed unless otherwise agreed with the board of directors.

“I look forward to stepping back in to lead the business and working closely with the board of directors to identify a successor going forward,” she said. “My fellow board members and I thank Elizabeth for her service to Stitch Fix, especially during the challenges of the last couple years. We wish her the best.”

Stitch Fix launched in the UK in 2019 with an aim to change shopper habits.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.