FIGS (FIGS) Announces Board Changes

FIGS, Inc. (NYSE: FIGS) (the “Company”), the global leading healthcare apparel brand dedicated to improving the lives of healthcare professionals, today announced the appointment of Melanie Whelan, former Chief Executive Officer of SoulCycle Inc., to its board of directors (the “Board”), effective January 1, 2025 (the “Effective Date”).

Ms. Whelan joins the Board as an independent director. Ms. Whelan has also been appointed to serve as Chair of the Board’s Compensation Committee, which as of the Effective Date will consist of Ms. Whelan, Jeffrey Wilke and J. Martin Willhite, and as a member of the Board’s Nominating and Corporate Governance Committee, which as of the Effective Date will consist of J. Martin Willhite (Chair), Sheila Antrum and Melanie Whelan.

Ms. Whelan has most recently served as Managing Director at Summit Partners, a growth equity investment firm, since 2020. Previously, from 2015 to 2019, Ms. Whelan served as Chief Executive Officer of SoulCycle Inc., an indoor fitness company, and before that as Chief Operating Officer from 2012 to 2015. Prior to joining SoulCycle, from 2007 to 2012, Ms. Whelan was Vice President of Business Development at Equinox Holdings, Inc., a luxury fitness company. She has also held leadership positions at Virgin Management, where she was on the founding team of Virgin America, and at Starwood Hotels & Resorts. Since 2019, Ms. Whelan has served on the board of directors of Chegg, Inc., an education technology company, where she also serves as chair of its compensation committee.

The Company also announced that A.G. Lafley will be resigning from the Board, effective December 31, 2024. Mr. Lafley has served on the Board since April 2022.

“We are excited to welcome Melanie to our Board,” said Trina Spear, Chief Executive Officer and Co-Founder. “Melanie brings decades of executive leadership experience in the consumer space. In particular, her experience scaling SoulCycle’s physical presence will be especially valuable as we continue to grow our retail strategy through our Community Hubs. I’d also like to thank A.G. for his years of service to FIGS and wish him the best on his retirement. A.G. has been a legend of business leadership for decades, and I can’t thank him enough for all of the contributions he made to FIGS over the years. He will always be a part of the FIGS family.”

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