Incoming Stitch Fix CEO Elizabeth Spaulding told CNBC on Thursday the company is confident in the timing of its executive shakeup, explaining that the coronavirus pandemic “accelerated everything” for the online styling service.
Spaulding, who currently serves as president, is set to take over the reins from founder and CEO Katrina Lake on Aug. 1. Lake, who started Stitch Fix in 2011 and took it public six years later, will then transition to executive chairperson of the company’s board.
While it’s not unusual for start-up founders to step down as CEO as their company matures, Stitch Fix’s announcement Tuesday nevertheless caught some industry observers and analysts by surprise. The…