Stitch Fix announces appointment of Matt Baer as Chief Executive Officer; Founder and interim Chief Executive Officer Katrina Lake will continue on in her role as Executive Chairperson of the Board

SAN FRANCISCO, June 14, 2023 (GLOBE NEWSWIRE) -- Stitch Fix, Inc. (NASDAQ:SFIX), the leading online personal styling service, announced today that Matt Baer, former Chief Customer & Digital Officer at Macy's, Inc., has been appointed 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 work closely with Baer as he transitions into his role. Lake will continue on in her role as Executive Chairperson of the Board.

"I’m incredibly excited to join Stitch Fix as CEO. As someone with retail in my DNA, I’ve long admired what Katrina has built with Stitch Fix - fusing AI with stylists to offer the most convenient shopping experience out there today,” said Baer. “People are looking for a better way to look and feel great. Stitch Fix is uniquely positioned to deliver that for them. I look forward to working with the talented team at Stitch Fix and leveraging my years of experience building and scaling retail businesses to deliver a sustained future of profitable growth."

“When I returned to Stitch Fix as interim CEO in January this year, I was committed to finding an inspiring leader with a track record of excellent execution, passion for our mission and a clear dedication to serving our clients. As we’ve gotten to know Matt, I, our board of directors and our management team were all impressed by his experience across all areas of retail businesses and his ability to identify the interconnected opportunities to positively impact the experience of our clients in the short term, while inspiring our teams to deliver an impactful vision for the future,” said Katrina Lake, interim CEO, Stitch Fix. “With Matt as our CEO, alongside our experienced management team, and with the continued commitment, passion and expertise of the whole Stitch Fix team, I’m confident we can continue to build on our significant competitive advantage in leveraging data and stylists to deliver the most personal experience in the industry and drive growth for the future.”

“On behalf of the Board, I want to thank Katrina for her leadership as interim CEO during this pivotal time and for the care and commitment she brought to the search for Stitch Fix’s next CEO. We share her confidence in Matt’s ability to lead Stitch Fix as it continues to deliver personal styling at scale and write the future of apparel retail,” added Sharon McCollam, Stitch Fix Lead Independent Director. “We’re thrilled to continue working alongside Katrina in her capacity as Executive Chairperson of Stitch Fix’s Board of Directors.”