Rent the Runway has announced a major leadership change: Co Founder Jennifer Hyman is stepping down as CEO, President and Board member on May 15, 2026, and longtime board member and retail veteran Teri Bariquit has been appointed Interim CEO and President, as the company doubles down on AI, marketplace, media and B2B growth while reaffirming its 2026 guidance.
Jennifer Hyman’s 18 Year Run As Founder CEO
Co founding Rent the Runway in 2009, Jennifer Hyman set out to disrupt the trillion dollar fashion industry by pioneering clothing rental at scale and normalizing secondhand fashion. Under her leadership, the company launched the now famous “Closet in the Cloud” model, served millions of women, forged deep relationships with leading designers, and in 2021 joined a small group of woman founded companies to go public.
In the transition announcement, Hyman said that building Rent the Runway has been “one of the greatest…
privileges” of her life, noting that what mattered most was the people, partners and customers who helped build it and emphasizing that the business is “stronger today than it has ever been.” She framed her decision to step down now as making room for the next chapter, while she stays on as an advisor through January 2027 to ensure a smooth handover.
Teri Bariquit Steps In As Interim CEO Stepping into the role of Interim CEO and President is Teri Bariquit, a 37 year retail veteran and current Rent the Runway board member who previously served as Chief Merchandising Officer at Nordstrom.
At Nordstrom, Bariquit oversaw more than 1,200 professionals across buying, planning, product development and inventory management, giving her deep operational and merchandising expertise in omnichannel retail.
In her first statement as Interim CEO, Bariquit said that Rent the Runway is in its “strongest financial position in years,” pointing to momentum across the company’s online marketplace, advertising and media platform, and B2B services…
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