---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-002459"
form_type: "8-K"
ticker: "SFIX"
cik: "0001576942"
company_name: "Stitch Fix, Inc."
filed_at: "2023-01-05T23:59:59+00:00"
generated_at: "2026-06-20T19:37:28.126444+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Stitch Fix CEO Elizabeth Spaulding steps down; Founder Katrina Lake named interim CEO; workforce cut by 6%

## Summary
- CEO Elizabeth Spaulding steps down effective Jan 5; receives 12 months salary and 15 months healthcare in separation.
- Founder Katrina Lake, previously Executive Chair, appointed interim CEO for six months or until successor named.
- New reduction in force eliminates ~6% of total workforce (~20% of salaried positions); estimated $15M-$20M cash charges.
- Company already incurred $18.7M in restructuring charges from prior 2022 plan that cut 15% of salaried roles.
- Lake receives options for 200k shares (150k cliff vesting by Jul 5 or successor date; 50k vest on successor's first day).

## SEC filing metadata
- accession: 0001193125-23-002459
- form_type: 8-K
- ticker: SFIX
- cik: 0001576942
- company_name: Stitch Fix, Inc.
- filed_at: 2023-01-05T23:59:59+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.05, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1576942/000119312523002459/0001193125-23-002459-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1576942/000119312523002459/d396326d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-002459
- JSON: https://secwatch.observer/filing/0001193125-23-002459.json
- Plain text: https://secwatch.observer/filing/0001193125-23-002459.txt

## Key facts
- Executive change
  Elizabeth Spaulding departed as Chief Executive Officer at Stitch Fix, Inc..
  - Action: stepped down
  - Role: Chief Executive Officer
  source text: the Company and Elizabeth Spaulding, the Company’s Chief Executive Officer, agreed that she would step down from her employment with the Company and from the Board of Directors, effective January 5, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1576942/000119312523002459/0001193125-23-002459-index.htm
- Executive change
  Katrina Lake was appointed as Chief Executive Officer at Stitch Fix, Inc..
  - Action: appointed
  - Role: Chief Executive Officer
  source text: the Board of Directors appointed Katrina Lake, the Company’s Founder and Executive Chairperson of the Board of Directors, as Chief Executive Officer, effective January 5, 2023, to serve in an interim capacity
  evidence_url: https://www.sec.gov/Archives/edgar/data/1576942/000119312523002459/0001193125-23-002459-index.htm
- Restructurings & Charges
  Stitch Fix, Inc. announced a restructuring with charges of between $15 million and $20 million (approximately 6% of the Company’s current employee workforce, including approximately 20% of employees in salaried posit).
  - Type: restructuring
  - Charge: between $15 million and $20 million
  - Headcount: approximately 6% of the Company’s current employee workforce, including approximately 20% of employees in salaried posit
  source text: As a result of the January 2023 Reduction in Force, the Company estimates that it will incur between $15 million and $20 million in cash restructuring charges for separation-related payments, benefits, and related taxes.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1576942/000119312523002459/0001193125-23-002459-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.