Dive Brief:
- Stitch Fix Chief Operating Officer Julie Bornstein, who’s been in the position for the past two years, quietly left the company last week to seek “a new challenge,” which entails hopes for a chief executive role, Recode reports.
- Because of the awkward timing though, just ahead of the subscription apparel retailer’s planned initial public offering, Recode’s Jason Del Rey speculates there may be more to the story, either disagreement among the company’s top management or an actual opportunity for Bornstein to serve as CEO somewhere.
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Bornstein has served in various executive positions at Sephora, Urban Outfitters and Nordstrom.com, according to Recode, and has expressed interest in leading a company. A request for details or comment from Retail Dive wasn’t immediately returned.
Dive Insight:
Earlier this year, privately-held Stitch Fix said it had $730 million in revenue in the 2016 fiscal year, marking its third consecutive year of profitability. At the time, it pushed back against rumors that it was turning down late-stage investments to clear a path to an initial public offering. However, the online personal styling…