Resignation Announcement
Dave Loretta, the Chief Financial Officer at The Honest Company, revealed his plans to step down from his role by the end of this year. In light of his decision, the company is actively looking for a suitable successor. Loretta will maintain his position until his successor is appointed, ensuring a seamless transition process.
Company’s Financial Outlook
Despite Loretta’s upcoming departure, The Honest Company is confidently reaffirming its financial projections for the upcoming year. They anticipate an impressive annual revenue increase in the high single digits. Additionally, adjusted EBITDA is expected to hover between $20 million and $22 million.
Contribution and Legacy
CEO Carla Vernón expressed her appreciation for Loretta’s significant impact, highlighting that he joined during a critical stage of their Transformation Initiative. “Dave was instrumental in reshaping our financial model and laying the groundwork for enduring fiscal stability,” shared Vernón. His leadership has fortified the company’s financial framework, leaving them well-prepared to continue their growth trajectory even as they seek a new finance leader.