C-Suite Transitions – Elizabeth Spaulding Steps Down as CEO of Stitch Fix

Welcome to edition 24 of  C-Suite Transitions, a weekly series on InsideArbitrage that tracks appointments and departures at publicly traded companies during the prior week. We highlight five appointments and departures each week by picking the largest companies from the full list of management changes.

1. Brookdale Senior Living (BKD): On January 10, 2023, Steven E. Swain, current Executive Vice President, and Chief Financial Officer, will be terminated without cause effective February 24, 2023.
2. Lakeland Financial (LKFN): On January 10, 2023, Michael E. Gavin, Executive Vice President, Chief Credit Officer, announced his long-standing plan to retire on January 27, 2023.
3. Sarcos Technology and Robotics (STRC): On January 11, 2023, Benjamin G. Wolff resigned as Executive Chairman, effective February 1, 2023.

Stitch Fix (SFIX)

Founded in 2011 and headquartered in San Francisco, Stitch Fix is an online personal styling service launched by Katrina Lake while pursuing a MBA at Harvard. Stitch Fix allows you to try on handpicked apparel at home from over a thousand brands, including Nike, Under Armour, and UGG.

How it Works

Stitch Fix customers submit a Style Profile, and one of the Stitch Fix team’s personal stylists hand-selects items based on their preferences and price limit based on a combination of algorithms and data science, offering tailored recommendations. A stylist then chooses five items for the user to try on. The customer only pays for the items they want to keep. Customers can pick from one-off delivery, a monthly subscription or a quarterly subscription.

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