Former Nordstrom chief merchant Teri Bariquit will take over as interim CEO at Rent the Runway on Friday, when co-founder Jennifer Hyman will step down as chief executive officer.
Hyman co-founded Rent the Runway with Jennifer Fleiss in 2009, disrupting fashion retail by providing access to garments without the need to own them. The company was in the black last year but has struggled with profitability since it launched.
Hyman will also step down as president and from the board, but plans to stay on as adviser until January to help with the transition.
“Today, after 18 years I have decided to step down as Rent The Runway’s CEO and from the Board of Directors,” she wrote in a LinkedIn post Wednesday. “I firmly believe that RTR is in a stronger position than it’s ever been, which is why this is as good a time as any to let RTR write its next chapter.”
Bariquit has nearly 40 years of industry experience, entirely at Nordstrom, and has served on Rent the Runway’s board since October 2025.
In a statement Wednesday, she said that the company is “in its strongest financial position in years, with clear momentum” and said her focus will be on “supporting our team and executing against our clear roadmap.” She noted the company’s recently established online marketplace, media platform and B2B services as contributing to that momentum.
