Sophia Amoruso is stepping down as chief executive of Nasty Gal, the e-commerce company she founded in 2006, the company announced Monday. The #Girlboss author will be replaced by Nasty Gal president Sheree Waterson, effective immediately.
Although Amoruso will no longer hold the top job at the edgy online fashion retailer, she will remain with the company as executive chairman and will oversee the creative and brand marketing teams.
“Today is an incredible day at Nasty Gal,” Amoruso said. “Sheree brings a wealth of experience in both business and leadership that will help guide us into the next phases of our growth. In the past 11 months alone, we have already seen the impacts of Sheree’s strategic thinking and approach in our product offering and experience. She has established herself as an inspiring leader here at Nasty Gal and I am confident in her ability to execute on our vision.”
Waterson added: “I am excited to support Sophia and lead Nasty Gal in this new chapter. We have an incredible team that has made huge strides in a short time and I look forward to executing on the significant opportunity ahead of us. The future is bright.”
Waterson, who will join the Nasty Gal board, was hired in February last year from yoga-wear retailer Lululemon. In an interview with Recode, which first reported the news, Amoruso said she hired Waterson with an eye for the leadership change-up. “I hope to someday be the leader that Sheree is,” she added.
Nasty Gal began as an eBay store and has since grown into a profitable business with more than 200 employees. Nasty Gal also opened its first retail location on Melrose Avenue last year and has plans for a second location in Santa Monica. But Recode notes that the company’s growth has slowed and that about 10 percent of staff was laid off over the summer.
In her new role as CEO, Waterson will work with Amoruso, who’s 2014 best-seller #Girlboss is part memoir and part how-to guide on founding and running a business, to push Nasty Gal to create a larger retail presence.