Stitch Fix Shares Slump as CEO Steps Down

Danny Vena, The Motley Fool
·2 min read
Stitch Fix Shares Slump as CEO Steps Down

Stitch Fix (NASDAQ: SFIX) dropped a bombshell on Tuesday, announcing after the market close that founder and CEO Katrina Lake is stepping down. Lake will transition to the role of executive chairman of the board, effective Aug. 1, and President Elizabeth Spaulding will become CEO. Stitch Fix stock slumped nearly 6% in after-hours trading on the news.