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Stitch Fix CEO to step down as it announces further job cuts

By Rachel Douglass


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Founder and interim CEO of Stitch Fix, Katrina Lake. Image: Stitch Fix

Elizabeth Spaulding, the chief executive officer of personal styling platform Stitch Fix has announced her departure from the top position, as well as from her role as a member of the board of directors.

On her departure, Spaulding said in a release that the company will continue to work towards “an ambitious transformation”, with a “leaner, more nimble organisation” to help it return to profitability.

She continued: “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.”

Founder and former CEO Kartina Lake has been named as Spaulding’s replacement, serving in an interim capacity for six months until her successor is appointed.

Salaried workforce to be cut by 20 percent

It comes as the company announced further job cuts to its salaried workforce, a move it first implemented in 2022’s Q3 after it reported a widening loss in its financials for the period.

In an email to employees, shared with the press, Lake said its salaried workforce will now be reduced by 20 percent, while its Salt Lake City distribution centre is to be closed.

Those affected will receive 12 weeks of pay, healthcare support through April 2023 and career support to help find new roles, the email continued.

Lake added: “To those impacted: You took a chance on Stitch Fix, trusted us with your time and investment of yourself, and I am sincerely sorry that we are parting ways with you in this way today.

“Thank you for your hard work, dedication, and the many moments of joy and meaning that brought to your teams, our community, and our clients.

“Your contributions will have a lasting impact on our business and our culture, and for that we are all grateful.”

Stitch Fix