Rent the Runway founder steps down

Rent the Runway founder Jennifer Hyman is leaving the company she founded in 2009, effective May 15. Hyman says she launched the pioneering company to disrupt the trillion-dollar fashion industry (she clearly succeeded) and calls building the New York-based fashion-rental marketplace “one of the greatest privileges of my life.” Hyman took the company public in 2021 and, though it has largely struggled since, led a diversification strategy that now features an online advertising and media platform as well as B2B services. She will remain an adviser through January 2027. Teri Bariquit, a board member and 37-year veteran of the fashion industry, will become interim CEO. Bariquit recently served as chief merchandising officer at Nordstrom.