Dhiren Fonseca to lead Rent the Runway board as executive chairman
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US-based fashion rental platform Rent the Runway has announced the appointment of Dhiren Fonseca as executive chairman of the board of directors. Fonseca has served in the role since October 2025, bringing more than 30 years of experience in corporate strategy, technology, and digital commerce to the company.
The appointment comes as the Nasdaq-listed firm continues to evolve its ‘Closet in the Cloud’ model. Fonseca previously held the position of chief executive officer and president of RentPath, an online marketplace for residential rentals, and served as chief commercial officer at US-based travel giant Expedia.
“Dhiren’s appointment as executive chairman marks an exciting new chapter for Rent the Runway,” said the company's co-founder and CEO Jennifer Hyman. Hyman noted that his expertise in building global online marketplaces will be “invaluable” as the company executes its strategy to drive long-term profitable growth.
Strategic focus on operational excellence
In his new capacity, Fonseca will focus on driving operational excellence and managing complex supplier ecosystems. His career began as an early employee at Microsoft, where he was part of the management team that created Expedia.com in 1995.
“I look forward to leveraging my experience in scaling digital platforms and managing complex supplier ecosystems to support Jennifer and the entire leadership team,” Fonseca stated. He added that the focus remains on delivering sustained value for shareholders and customers.
The executive has a history of board-level governance, having served with organizations including Alaska Air Group, Hotel Tonight, and Rackspace. He currently serves on the board of DRF Logistics and acts as an advisor to Italian tech firm GetPica.
Founded in 2009, Rent The Runway allows consumers to subscribe, rent items a-la-carte, or engage in resale. The platform offers a diverse assortment ranging from evening wear and accessories to ready-to-wear, menswear, and ski wear.