FIGS, Inc. (NYSE: FIGS) (the “Company”), the global leading
healthcare apparel brand dedicated to improving the lives of
healthcare professionals, today announced the appointment of
Melanie Whelan, former Chief Executive Officer of SoulCycle Inc.,
to its board of directors (the “Board”), effective January 1, 2025
(the “Effective Date”).
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Melanie Whelan (Photo: Business Wire)
Ms. Whelan joins the Board as an independent director. Ms.
Whelan has also been appointed to serve as Chair of the Board’s
Compensation Committee, which as of the Effective Date will consist
of Ms. Whelan, Jeffrey Wilke and J. Martin Willhite, and as a
member of the Board’s Nominating and Corporate Governance
Committee, which as of the Effective Date will consist of J. Martin
Willhite (Chair), Sheila Antrum and Melanie Whelan.
Ms. Whelan has most recently served as Managing Director at
Summit Partners, a growth equity investment firm, since 2020.
Previously, from 2015 to 2019, Ms. Whelan served as Chief Executive
Officer of SoulCycle Inc., an indoor fitness company, and before
that as Chief Operating Officer from 2012 to 2015. Prior to joining
SoulCycle, from 2007 to 2012, Ms. Whelan was Vice President of
Business Development at Equinox Holdings, Inc., a luxury fitness
company. She has also held leadership positions at Virgin
Management, where she was on the founding team of Virgin America,
and at Starwood Hotels & Resorts. Since 2019, Ms. Whelan has
served on the board of directors of Chegg, Inc., an education
technology company, where she also serves as chair of its
compensation committee.
The Company also announced that A.G. Lafley will be resigning
from the Board, effective December 31, 2024. Mr. Lafley has served
on the Board since April 2022.
“We are excited to welcome Melanie to our Board,” said Trina
Spear, Chief Executive Officer and Co-Founder. “Melanie brings
decades of executive leadership experience in the consumer space.
In particular, her experience scaling SoulCycle’s physical presence
will be especially valuable as we continue to grow our retail
strategy through our Community Hubs. I’d also like to thank A.G.
for his years of service to FIGS and wish him the best on his
retirement. A.G. has been a legend of business leadership for
decades, and I can’t thank him enough for all of the contributions
he made to FIGS over the years. He will always be a part of the
FIGS family.”
Forward Looking Statements
This press release contains various forward-looking statements
about the Company within the meaning of the Private Securities
Litigation Reform Act of 1995, as amended, that are based on
current management expectations, and which involve substantial
risks and uncertainties that could cause actual results to differ
materially from the results expressed in, or implied by, such
forward-looking statements. All statements contained in this press
release that do not relate to matters of historical fact should be
considered forward-looking. These forward-looking statements
generally are identified by the words “anticipate”, “believe”,
“contemplate”, “continue”, “could”, “estimate”, “expect”,
“forecast”, “future”, “intend”, “may”, “might”, “opportunity”,
“outlook”, “plan”, “possible”, “potential”, “predict”, “project,”
“should”, “strategy”, “strive”, “target”, “will” or “would”, the
negative of these words or other similar terms or expressions. The
absence of these words does not mean that a statement is not
forward-looking. These forward-looking statements address various
matters, including the commencement of Ms. Whelan’s service on the
Company’s Board and the Company’s plan to continue growing its
retail strategy, all of which reflect the Company’s expectations
based upon currently available information and data. Because such
statements are based on expectations as to future financial and
operating results and are not statements of fact, the Company’s
actual results, performance or achievements may differ materially
from those expressed or implied by the forward-looking statements,
and you are cautioned not to place undue reliance on these
forward-looking statements. The following important factors and
uncertainties, among others, could cause actual results,
performance or achievements to differ materially from those
described in these forward-looking statements: the Company’s
ability to maintain its historical growth; the Company’s ability to
maintain profitability; the Company’s ability to maintain the value
and reputation of its brand; the Company’s ability to attract new
customers, retain existing customers, and to maintain or increase
sales to those customers; the success of the Company’s marketing
efforts; the Company’s ability to maintain a strong community of
engaged customers and Ambassadors; negative publicity related to
the Company’s marketing efforts or use of social media; the
Company’s ability to successfully develop and introduce new,
innovative and updated products; the competitiveness of the market
for healthcare apparel; the Company’s ability to maintain its key
employees; the Company’s ability to attract and retain highly
skilled team members; risks associated with expansion into, and
conducting business in, international markets; changes in, or
disruptions to, the Company’s shipping arrangements; the successful
operation of the Company’s distribution and warehouse management
systems; the Company’s ability to accurately forecast customer
demand, manage its inventory, and plan for future expenses; the
impact of changes in consumer confidence, shopping behavior and
consumer spending on demand for the Company’s products; the impact
of macroeconomic trends on the Company’s operations; the Company’s
reliance on a limited number of third-party suppliers; the
fluctuating costs of raw materials; the Company’s failure to
protect proprietary, confidential or sensitive information or
personal customer data, or risks of cyberattacks; the Company’s
failure to protect its intellectual property rights; the fact that
the operations of many of the Company’s suppliers and vendors are
subject to additional risks that are beyond its control; and other
risks, uncertainties, and factors discussed in the “Risk Factors”
section of the Company’s Quarterly Report on Form 10-Q for the
quarter ended September 30, 2024 filed with the Securities and
Exchange Commission (“SEC”) on November 7, 2024, the Company’s
Annual Report on Form 10-K for the year ended December 31, 2023
filed with the SEC on February 28, 2024, and the Company’s other
periodic filings with the SEC. The forward-looking statements in
this press release speak only as of the time made and the Company
does not undertake to update or revise them to reflect future
events or circumstances.
About FIGS
FIGS is a founder-led, direct-to-consumer healthcare apparel and
lifestyle brand that seeks to celebrate, empower, and serve current
and future generations of healthcare professionals. We create
technically advanced apparel and products that feature an unmatched
combination of comfort, durability, function, and style. We share
stories about healthcare professionals’ experiences in ways that
inspire them. We build meaningful connections within the healthcare
community that we created. Above all, we seek to make an impact for
our community, including by advocating for them and always having
their backs.
We serve healthcare professionals in numerous countries in North
America, Europe, the Asia Pacific region and the Middle East. We
also serve healthcare institutions through our TEAMS platform.
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version on businesswire.com: https://www.businesswire.com/news/home/20241219372097/en/
Investors: Tom Shaw IR@wearfigs.com Media: Todd Maron
press@wearfigs.com
FIGS (NYSE:FIGS)
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