The rumor mill has been churning over at Honest Company, according to a few inside sources as reported by Recode this week.
After a turbulent year led by an almost-filed IPO, the company began its talks with top executives from consumer package companies. To help determine next steps for Honest Company, these executives were brought in by the board of directors. When a few of these executives came in for conversations, many shared they would only come over to the Honest team on one condition — that they be named the company’s new CEO.
While nothing has been determined at this time, the brand’s current CEO, Brian Lee, said he has no intentions of leaving the company. In a quote to Recode, he said, “I’m the CEO, and I’ll continue to be CEO. We’re always looking to do what’s best for the company.”
As more of these outside executives make their way into the Honest Company for discussions on what in fact is best for the company, a few executives have departed, and it was announced in December that there are plans to cut 80 jobs. The executives who have exited the company include President Sean Kane, CFO/COO David Parker, CTO Oleg Pylnev and CMO Chris Thorne.
The baby and beauty product company looks toward the future with possible plans to expand its presence from online to physical with a brick-and-mortar location. As nearly 85 percent of commerce reportedly still occurs in physical stores, the Honest Company believes this is a safe bet moving forward.