Stitch Fix Appoints Former Macy's Executive As Its CEO

Stitch Fix Inc SFIX has appointed Matt Baer as its Chief Executive Officer and a member of the Board of Directors, effective June 26, 2023.

Founder, interim CEO and Executive Chairperson of the Board Katrina Lake will continue in her role as Executive Chairperson of the Board.

Related: Stitch Fix Plans To Slash 20% Of Salaried Jobs, CEO Steps Down

Previously, Baer was Chief Customer & Digital Officer at Macy's Inc M, responsible for the growth and strategic long-term vision of Macy's and Bloomingdale's digital businesses.

He holds a bachelor's degree in business administration from the Stephen M. Ross School of Business at the University of Michigan and a law degree from the Benjamin N. Cardozo School of Law at Yeshiva University.

Also Read: Shifting Consumer Trends Favor Stitch Fix Despite Broader Macroeconomic Challenges: Analyst

Price Action: SFIX shares are trading lower by 6.50% at $4.46 on the last check Wednesday.