Intermix appoints former Neiman Marcus chief as interim CEO

US fashion retailer Intermix has appointed board member and former Neiman Marcus Group chief executive Karen Katz as its interim CEO, effective June 7.

Katz replaces current CEO Jyothi Rao, who has decided to step down after serving in the role since 2014.

“It's been an honor to lead the talented team at Intermix for the past eight years,” Rao said in a statement.

She continued: “I am proud of the brand we have built, one that curates the most exciting mix of established and emerging designers while using our platform to advocate for issues around female empowerment, diversity and inclusion, and sustainability.”

Rao said she is “confident” that Katz, along with Altamont Capital Partners, which bought Intermix from Gap last year, will “position the brand for continued success”.

Incoming interim CEO Katz joined the Intermix board in April.

She previously served as the CEO of US luxury group Neiman Marcus between 2010 and 2018, during which time she led the firm through its digital transformation.

She currently sits on three public company boards, including Under Armour and The RealReal.

Katz commented: “I am looking forward to partnering with Altamont Capital Partners and this committed Intermix team to continue the momentum and help Intermix deliver the best product and omnichannel experience to its current and future customers.

“In working with many Private Equity firms throughout my career, the team at ACP is completely aligned on our focus in delivering a great customer experience and growing shareholder value.”