Online beauty retailer, Glossier has lost its third senior executive within a year, as the e-tailer’s President and CFO Henry Davis steps down.
After five years with the digital beauty start-up, Davis announced in a blog post that he would be stepping down from his position as the president and CFO to pursue his own business venture.
“I signed my offer letter with Glossier on Christmas Eve, 2013 and now, five years later, I will be signing off from working here,” he wrote.
Davis’ departure comes after Glossier lost its Head of Finance, Matt Weiler earlier in the year and former Vice President and Creative Director, Helen Steed, not long before that. Glossier’s founder, Emily Weiss is now reportedly on the hunt for a new COO and CFO.
According to Davis, Weiss is a “generation-defining entrepreneur” and other beauty brands in the space should be looking to Glossier as an example of the future of the industry.
“The company has grown remarkably quickly and has had an outsized impact on the world. From our first few early adopter customers, we now have millions of customers in seven countries. We have grown from 10 corporate employees to almost 200,” he said.
He also noted that the “category-defining business” has raised $86 million over the years, with the $52 million in venture capital funding the business received back in February bolstering confidence in the business.
Spectators have claimed that the third departure in a matter of months could spark issues for the beauty retailer, however, the resignations have been spaced out, and the brand seems to be on track for future growth, having just invested in a new flagship store in New York’s SoHo neighbourhood.
“This is a special company, with an incredibly special future ahead of it, and we are still early in the journey,” Davis said to close off his resignation post.