It’s the end of an era.
Jessica Alba is stepping down as chief creative officer at The Honest Co., the beauty and personal care company she founded, stating that she wants to shift her creative energy to new endeavors. She will still have some involvement, however, remaining on the board.
“When I created The Honest Company, I set out to change the consumer product industry and I can proudly say, we did just that,” said Alba in a statement. “Honest has been a true labor of love for me — one that showed me what’s possible when you infuse purpose into business. While there never would have been an easy time to make this decision, I know we have a leadership team in place to advance my founding vision and protect Honest’s reputation as an industry changemaker.”
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Chief executive officer Carla Vernón added: “I offer our deep appreciation on behalf of the management team, our board of directors and generations of Honest employees for Jessica’s leadership through the years. I am pleased Jessica will remain an adviser in her role as a member of our board of directors. And, as she shifts her focus to exciting new ventures, we will be cheering her on.”
Alba founded the company in 2011 after failing to find personal care products made of clean ingredients and for a long time served as chief creative officer and chair of the business, which later received a $200 million backing from L Catterton.
The company went public in May 2021, at the time valuing the company at $2.1 billion on the Nasdaq stock exchange.
Shares in the Honest Co. closed down 2.4 percent at $3.72 Tuesday.
Its fourth-quarter earnings, released in March, showed that net revenues rose 10 percent year-over-year to $90.3 million.
“Our fourth-quarter results demonstrate the benefit that our Transformation Initiative has had on the business. Our clear focus on brand Maximization, margin enhancement, and operating discipline has enabled us to achieve both positive net income and positive adjusted EBITDA,” said Vernón at the time.
