The Amazon veteran joins The Honest Company as their newly appointed CEO
The Honest Company Announces New Leadership and Q3 Results
The Honest Company, a leading provider of clean and natural household and personal care products, has been undergoing significant changes in its leadership and reporting positive growth in its Q3 results.
In a major move, the company announced on Tuesday that Carla Vernón will be its new CEO, effective from January 9, 2023. Vernón, a former Amazon employee with over two decades of experience at General Mills, will be taking over from Nick Vlahos, who is stepping down after a nearly six-year tenure. Vlahos will transition to the board of directors.
Vlahos praised Vernón's understanding of how to engage the conscious-minded shopper and their desire for clean and natural products. Jessica Alba, founder and Chief Creative Officer of The Honest Company, stated that Vernón has an innate ability to drive product innovation and go-to-market strategies.
The company has been reshaping its leadership over the past few years. In 2021, Pete Gerstberger, an Amazon Key veteran, joined as chief digital and strategy officer. Steve Winchell was brought on as The Honest Company's executive vice president of operations and research and development in June 2022. James White and Susan Gentile were also added to the board of directors in the same year.
The new CEO, Vernón, worked with The Honest Company on its platform at Amazon before joining the company. She was previously the vice president of consumables categories at Amazon.
The Honest Company reported modest Q3 revenue growth, with a 2% bump in revenue to $85 million overall. The diapers and wipes business increased 3% year over year, while the household and wellness category grew 115%. However, the skin and personal care division declined by 13% in Q3.
In addition to the leadership changes and financial results, The Honest Company also expanded its shop deals with Ulta Beauty in August 2021, with more than 635 of the beauty retailer's physical stores now carrying the brand's products. The company also signed a deal with Walmart in July 2021, allowing for the sale of its products both in stores and online.
Despite the positive developments, The Honest Company's stock price has fallen significantly since its debut. The company filed to go public in April 2021.
As Carla Vernón takes the helm, she will be tasked with navigating the company through this challenging market and continuing to grow The Honest Company's presence in the clean and natural products space.
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