The Honest Co. Inc. has named The Clorox Co. veteran Nick Vlahos CEO.
Vlahos replaces co-founder Brian Lee, who has helmed the personal care products manufacturer and e-retailer since its inception in 2012. The Honest Co., No. 132 in the Internet Retailer 2016 Top 500 Guide, says Lee will remain on its board of directors.
Vlahos has spent most of the past 22 years at The Clorox Co., most recently as the company’s chief operating officer. He also spent two years, from March 2011 to March 2013, as vice president and global general manager at Burt’s Bees Inc., No. 876 in the Internet Retailer 2016 Top 1000.
“With our strategic shift from e-commerce to omnichannel brand underway, this is the perfect time to welcome Nick Vlahos as the new CEO of The Honest Co.,” co-founder and actress Jessica Alba says.
Vlahos joins the company six months after reported discussions of a $1 billion acquisition of the company by Unilever fizzled out. The Honest Co. says it generated more than $300 million in online sales in 2016. According to Internet Retailer’s Top500Guide.com, the company generated an estimated $261.1 million in online sales in 2015, which would put its year-over-year growth rate at a minimum of 14.9%.
The Honest Co. has raised $228 million across five rounds of funding, most recently a $100 million round in August 2015 led by Glade Brook Capital Partners, according to CrunchBase.Favorite