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Cybernet Data Systems Inc.

FIGS Appoints A.G. Lafley, Kenneth Lin, and Jeffrey Wilke to Board of Directors

Strategic Insights

— 2 min read

Heather Hasson, Co-CEO and Co-Founder of FIGS, Inc., announced the appointment of three new independent directors to the company's Board: A.G. Lafley, Kenneth Lin, and Jeffrey Wilke. The new directors will bring extensive experience in public company leadership, technology, e-commerce, and operations to the Board. Lafley, Lin, and Wilke will join the Board effective April 1, 2022, with Lin and Wilke also appointed to the Audit Committee. This move is expected to enhance FIGS' ability to capitalize on the growing opportunity in the direct-to-consumer healthcare apparel and lifestyle market.

Key Takeaways:

  • Three new independent directors have been appointed to FIGS' Board of Directors: A.G. Lafley, Kenneth Lin, and Jeffrey Wilke.
  • Lafley, a seasoned public company CEO, brings 40 years of experience at The Procter & Gamble Company, including stints as President, CEO, and Chairman of the Board.
  • Lin, a successful founder and technology leader, is the CEO of Credit Karma, which he founded in 2007 and was acquired by Intuit for over $8 billion in 2020.
  • Wilke, a leading operations expert, spent 20 years at Amazon, including as CEO of Amazon Worldwide Consumer, and currently serves as Chairman of Re:Build Manufacturing.
  • The new directors will participate in the Company's Non-Employee Director Compensation Program, which includes an annual cash retainer, stock units, and an annual grant of stock units.
  • Lafley and Wilke will also serve on the Audit Committee, replacing Sheila Antrum, who is leaving the committee.
  • The appointments demonstrate FIGS' commitment to adding experienced leaders to its Board and enhancing its ability to drive growth and innovation in the healthcare apparel and lifestyle market.

Statistics:

  • Lafley holds a BA from Hamilton College and an MBA from Harvard Business School.
  • Lin holds a BA in Economics and Mathematics from Boston University and was selected to join the Aspen Institute's Henry Crown Fellows in 2018.
  • Wilke holds a BS in Chemical Engineering from Princeton University and an MS in Chemical Engineering and MBA from Massachusetts Institute of Technology.
  • Credit Karma was acquired by Intuit for over $8 billion in 2020.
  • A.G. Lafley served in various positions at The Procter & Gamble Company, including as President, CEO, and Chairman of the Board, for a total of 20 years.

Sources:

  • Press Release, "FIGS Adds A.G. Lafley, Kenneth Lin and Jeffrey Wilke to its Board of Directors", March 30, 2022.
  • FIGS, Inc. Form 8-K, March 29, 2022.
  • FIGS, Inc. website, "Our Leadership Team".
  • The Procter & Gamble Company website, "Our Leadership".
  • Credit Karma website, "Our Leadership".
  • Amazon.com, Inc. website, "Our Leadership".

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