Fab cofounder and chief design officer Bradford Shellhammer has announced he is stepping away from his day-to-day role at the e-commerce company. Shellhammer will remain a shareholder and non-executive advisor to the company; cofounder Jason Goldberg will stay on as CEO.
In Fast Company senior writer Danielle Sacks's September profile of Fab, Goldberg likened Shellhammer's role to that of a creative director at a fashion house—more focused on defining an aesthetic than optimizing operations. At the time, chief operating officer Beth Ferreira told Sacks:
Bradford is just so free with his thoughts and opinions. The question is, what will his long-term role be in the company? He's such an asset from the creative standpoint. Will the company be better served with him focusing only on that?
Shortly before the story was published, Goldberg sent an internal memo to Fab employees debunking the notion there was any tension between Ferreira and Shellhammer:
The reporter tried to create a friction between Beth and Bradford that just does not exist... The truth is that we are deeply engaged in continual refinement of our operational and creative strategy and the partnership of our executive team is stronger than ever.
To that effect, Goldberg tells Forbes in an article published this morning, "the pivot transition is over."
Shellhammer's departure comes as the company, whose current valuation is $1 billion, begins to transition from its original flash-sale model to that of a traditional retailer that keeps its own inventory and warehouses. As Goldberg and his executive team continue to set eyes on reaching profitability off Fab's existing financing of more than $300 million, the company has laid off employees with legacy roles from the flash-sale days. Goldberg has implied more layoffs could be on the way as Fab's business operations evolve.