Lululemon executive takes over as CEO of Awaycompany.
Away, the direct-to-consumer travel and luggage company, has announced a change in leadership, with Stuart Haselden appointed as the CEO, effective from January 13, 2020. This move comes as the company looks to expand its brick-and-mortar stores, venture into new categories such as travel apparel and travel wellness, and expand internationally.
Stuart Haselden, who previously served as chief financial officer at J. Crew and held key positions at Lululemon, will take over from Away's co-founder, Steph Korey, who will become the executive chairman. Jen Rubio, the other co-founder, did not address the cultural issues described by The Verge in a recent investigative report in their statement regarding Haselden's appointment.
Haselden played a significant role in Lululemon's growth, helping the company double its revenues and increase its market cap by nearly $25 billion during his five years there. He was also one of the leaders involved in the CEO search at Lululemon after Laurent Potdevin resigned. Calvin McDonald, who was lured away from Sephora, was appointed as the CEO of Lululemon as a result of the search.
In a Twitter post, Steph Korey expressed her commitment to setting the highest standards for how people are treated and helped to grow, stating, "The Away I am committed to is one where the highest standards are set for how people are treated and helped to grow." She also apologised for past actions and admitted mistakes in relation to the investigation by The Verge.
The change in leadership comes amidst a record year of CEO departures, with CEOs stepping down or announcing resignation from Nike, Under Armour, Bed Bath & Beyond, Best Buy, Tapestry, and Gap. Away reached unicorn status in May 2019, and with the new leadership, the company is poised for further growth and expansion.
Lululemon has also announced that Chief Technology Officer Julie Averill and Chief Supply Chain Officer Ted Dagnese will join Away's senior leadership team, effective immediately. Haselden's extensive experience at Saks and his key role in Lululemon's success make him a valuable addition to Away's team as they embark on their next phase of growth. No reference to The Verge investigation was made in the press release regarding Haselden's appointment as CEO.
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