Sophia Amoruso, founder of Nasty Gal,
is no longer CEO of the fashion site. The company’s president and chief
product officer, Sheree Waterson, will take over the position and also
join its board.
Amoruso told Re/code that she made the decision to vacate the CEO position on her own, and will remain involved in Nasty Gal’s daily operations as executive chairman, overseeing its creative and brand marketing. Waterson was hired in February 2014 by Amoruso as a potential successor with more experience in growing a company. Before joining Nasty Gal, Waterson served as an executive at clothing companies Lululemon, Speedo North America, and Levi Strauss & Co.
Last year was an eventful one for Amoruso and Nasty Gal. Her book, #GIRLBOSS, a combination memoir and motivational business how-to, became a bestseller, but the eight-year-old company suffered from slowing growth and laid off 10 percent of its workforce.
Re/code reports that Los Angeles-based Nasty Gal will focus on its
margins instead of top-line growth this year, which will hopefully
result in a sustainable revenue increase.
News of executive reshuffling at Nasty Gal comes the day after another fashion retail site, Modcloth, announced that its founder is handing over the CEO role. Eric Koger is vacating the position for Matthew A. Kaness. Like Waterson, Kaness is also a clothing industry veteran—before joining Modcloth, he was Urban Outfitters’ chief strategy officer. Modcloth has also been hit with plateauing growth and layoffs, so Kaness will also have to figure out how keep the company from becoming a victim of the fickle fashion retail business.
Amoruso told Re/code that she made the decision to vacate the CEO position on her own, and will remain involved in Nasty Gal’s daily operations as executive chairman, overseeing its creative and brand marketing. Waterson was hired in February 2014 by Amoruso as a potential successor with more experience in growing a company. Before joining Nasty Gal, Waterson served as an executive at clothing companies Lululemon, Speedo North America, and Levi Strauss & Co.
Last year was an eventful one for Amoruso and Nasty Gal. Her book, #GIRLBOSS, a combination memoir and motivational business how-to, became a bestseller, but the eight-year-old company suffered from slowing growth and laid off 10 percent of its workforce.
News of executive reshuffling at Nasty Gal comes the day after another fashion retail site, Modcloth, announced that its founder is handing over the CEO role. Eric Koger is vacating the position for Matthew A. Kaness. Like Waterson, Kaness is also a clothing industry veteran—before joining Modcloth, he was Urban Outfitters’ chief strategy officer. Modcloth has also been hit with plateauing growth and layoffs, so Kaness will also have to figure out how keep the company from becoming a victim of the fickle fashion retail business.