Rag & Bone CEO exits after only five months

The CEO Rag & Bone has left after only five months. The New York-based brand announced in August the appointment of Stefanie Strack to the role of CEO. Strack began her short-lived tenure with the company a month later, on September 10.

Prior to this appointment, Strack spent 14 years with Nike Inc., holding a number of various leadership roles. Strack's most recent position with Nike was Vice President and General Manager of Nike Express Lane, a new division within the company that worked to transform all key direct to consumer functions.

Upon taking on the role of CEO of Rag & Bone, Strack took over from former CEO Marcus Wainwright, who had stayed on with the brand as Founder and Chief Brand Officer.

Wainwright has now returned to the CEO position for the time being while the company searches for a new executive.

He had said at the time of Strack's appointment, “I am beyond thrilled that Stefanie will be joining the company and I see her as a true partner. Stefanie brings us a wealth of experience in key strategic areas and personifies the Rag & Bone woman."

Rag & Bone told WWD that the Strack's early departure was a mutual decision between Strack and the board. Both parties “have mutually agreed that their respective visions for the strategic direction of the company differ, and that the company should realign the brand’s leadership.”