Figs, Inc. (NYSE: FIGS) has announced the appointment of Sarah Oughtred as the company's new Chief Financial Officer. Oughtred, who spent almost 17 years at Lululemon, will take on the role effective August 9, 2024. At Lululemon, Oughtred played a pivotal role in increasing net revenues from $270 million to approximately $10 billion, scaling its retail footprint from less than 50 stores to over 700, and expanding its international footprint from North America-only to over 25 countries globally.
Oughtred's experience at Lululemon, where she served as Senior Vice President, Financial Planning & Analysis (FP&A) since 2021, is expected to align with FIGS' long-term growth plans. Trina Spear, FIGS' Chief Executive Officer and Co-founder, expressed excitement about Oughtred's appointment, stating that her experience driving exceptional growth and profitability will benefit FIGS during its growth trajectory.
The new CFO is expected to lead all aspects of finance, including FP&A and accounting, and will also lead data analytics. Oughtred's appointment comes at a time when FIGS is aiming to be the iconic global brand for healthcare professionals over the next 100 years. Oughtred expressed her excitement to join FIGS, citing admiration for how the company revolutionized the healthcare apparel industry, as well as its structurally advantaged financial profile.
Before her tenure at Lululemon, Oughtred spent three years at PricewaterhouseCoopers in the audit and assurance practice. She received her Bachelor's of Commerce from the University of Victoria in 2003 and her Master's of Professional Accounting from the University of Saskatchewan in 2005, and also holds a Chartered Professional Accountant designation in Canada. As a result of these announcements, the company's shares have moved -2.2% on the market, and are now trading at a price of $5.42. If you want to know more, read the company's complete 8-K report here.
