Stitch Fix has named former Macy’s Chief Customer and Digital Officer Matt Baer to the role of CEO 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 the role, then will continue on in her role as Executive Chairperson.
In his previous position, Baer was responsible for the growth and strategic long-term vision of Macy’s and Bloomingdale’s digital businesses, as well as Macy’s strategy and programs, with the goal of creating deeper, more enduring relationships with customers. He delivered 31% digital growth from FY19 through FY22 and launched or scaled a number of impactful initiatives, including a third-party marketplace, the Macy’s Media Network, a modern redesign of Macys.com and the Macy’s mobile app, and the Macy’s Live livestream platform.
Prior to joining Macy’s, Baer was VP of Ecommerce at Walmart.com, where he helped lead the transformation and scaling of Walmart’s digital business. Baer also has held executive positions at two retail startups and practiced commercial litigation.
“I’m incredibly excited to join Stitch Fix as CEO,” said Baer in a statement. “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. 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.”
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Lake has been serving as interim CEO since the start of 2023, when then-CEO Elizabeth Spaulding stepped down from both the CEO position and as a member of the Board of Directors following a period of weak sales and a declining customer base. The retailer also laid off 20% of its salaried workforce at the time, its second mass layoff in six months, as Lake prepared to work on a turnaround plan.
“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,” said Lake in a statement.
