Business
Rent the Runway Chief Supply Chain Officer Brian Donato to Assume Newly Created Chief Revenue Officer Role; Drew Rau to Join RTR Executive Team with Promotion to SVP of Supply Chain and Inventory
NEW YORK, Jan. 13, 2023 (GLOBE NEWSWIRE) -- Rent the Runway, Inc. (“Rent the Runway” or “RTR”) (Nasdaq: RENT), the largest shared designer closet, today
About this update from Rent The Runway, Inc.
[{"type":"text","content":"NEW YORK, Jan. 13, 2023 (GLOBE NEWSWIRE) -- Rent the Runway, Inc. (“Rent the Runway” or “RTR”) (Nasdaq: RENT), the largest shared designer closet, today announced that Brian Donato, its current Chief Supply Chain Officer, will assume the newly created role of Chief Revenue Officer. Drew Rau, currently serving in the role of VP, Inventory Performance, will expand his remit and become a part of the RTR executive team as SVP, Supply Chain and Inventory. Both changes will be effective as of January 16, 2023 and come as the brand continues to prioritize sustainable growth and reinvests in the customer experience in 2023. “I am thrilled to elevate Brian and Drew into new roles as we embark on what we believe will be a transformative year for Rent the Runway,” said Jennifer Hyman, Co-Founder and CEO of Rent the Runway. “As exceptional leaders who operate with versatility, tenacity and unwavering focus on results, Brian and Drew are a testament to the caliber of talent we have on board at Rent the Runway.” As Chief Revenue Officer, Donato will be responsible for execution of the brand’s growth strategy, as well as formulating and achieving RTR’s topline targets. He will oversee brand and growth marketing, revenue strategy, creative and customer experience, and will report to Rent the Runway President and COO Anushka Salinas. Donato joined RTR in early 2020 to oversee the company’s end to end customer fulfillment operation. During his time as Chief Supply Chain Officer, he led operations initiatives that helped to reduce fulfillment expense from 46% of revenue in fiscal 2019 to 30% of revenue in fiscal Q3 2022. He also introduced new processes and technology into the operation that helped drive more than a 30% YoY reduction in non-transportation fulfillment costs between fiscal 2020 and 2021. His accomplishments include the launch of an at-home pickup program to increase customer satisfaction and reduce costs, and the further expansion of automation in RTR fulfillment centers to reduce labor costs and increase garment longevity. Prior to joining Rent the Runway, Donato was SVP, Operations at Bowery Farming, a vertical farming company, and served in various capacities at Amazon.com, where he led operations for half of the North American Fulfillment Network as well as North American Customer Returns, Worldwide Fresh, and Worldwide Pantry. ...