Intermix Taps Former Neiman Marcus Chief Karen Katz as Interim CEO
Intermix has tapped board member and former Neiman Marcus Group CEO Karen Katz as its interim CEO, effective June 7.
Katz replaces outgoing CEO Jyothi Rao, who has decided to step down after serving in the role since 2014.
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“It’s been honor to lead the talented team at Intermix for the past eight years,” Rao said in a statement. “I am proud of the brand we have built, one that curates the most exciting mix of established and emerging designers while using our platform to advocate for issues around female empowerment, diversity and inclusion, and sustainability.”
Rao said she is “confident” that Katz, along with Altamont Capital Partners (ACP), which bought Intermix from Gap Inc. last year, will “position the brand for success.”
Incoming interim chief Katz joined the Intermix board in April and most recently served as president and CEO of Neiman Marcus Group, where she led the company through its digital transformation. After eight years as CEO and 33 years with the company in a variety of positions, she retired in 2018.
Katz currently serves on three public company boards: Humana Healthcare, Under Armour, and The Real Real. She also spends time as a board member on privately held consumer company boards and acts as an advisor to a number of startups in the technology, service and product spaces. In addition, she is the chair of the board of the Perot Museum of Nature and Science in Dallas.
Intermix said in a statement that Katz’s “unique perspective” will enhance plans for its growth and best-in-class customer experience, positioning the brand to shape the future of multi-brand retail.
“We are thrilled to have Karen step into the role as interim CEO,” Keoni Schwartz, co-founder and managing director of Altamont Capital Partners, said in a statement. “I want to thank Jyothi for her leadership at Intermix. Her strategic vision to fully integrate the stores with the e-commerce business positioned the brand to be a leading omni-channel fashion business for women.”
“I am looking forward to partnering with Altamont Capital Partners and this committed Intermix team to continue the momentum and help Intermix deliver the best product and omnichannel experience to its current and future customers,” added Katz. “In working with many Private Equity firms throughout my career, the team at ACP is completely aligned on our focus in delivering a great customer experience and growing shareholder value.”
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