Images by Cayce Clifford

Glossier is facing a management deficit.

The latest executive to leave the direct-to-consumer darling is Henry Davis, who was president of the no-makeup makeup brand since 2014. He also served as chief operating officer until July, when he transitioned to chief financial officer.

Davis’ departure follows that of Matt Weiler, who had previously headed finance and left the business to take a job as cfo of Daily Harvest, and vice president, creative director Helen Steed, who left for an agency job.

The company is now said to be on the hunt for both a chief operating officer and cfo, leaving Emily Weiss, Glossier’s founder and chief executive officer, essentially alone in the C-suite.

A source with knowledge of Glossier said there are “no issues” behind the scenes, and that the company has beat top and bottom line financial forecasts. The source chocked the departures up to start-up growing pains and certain employees “tenuring out.”

Some industry sources were surprised by Davis’ departure, noting that behind the scenes he was frequently the one taking meetings while Weiss played a much more forward-facing role.

Another expert speculated that it’s likely Glossier is simply moving into phase two and looking to hire experts in their fields. Davis’ background is in venture capital, where he worked at Index Ventures, an investor in Glossier.

Like many start-ups, the long-term plan behind the scenes at Glossier is said to include an initial public offering, something Weiss has been candid about. In an interview with WWD in March, Davis said they were “going to build as big of a business” as they could. Weiss added, “If an IPO is the best way for us to get there, then we’ll do that.”

In a statement Wednesday, Davis said: “Five years ago, I signed on to work with Emily because we shared a vision for a new type of tech-driven, direct-to-consumer company. Over the years, this team has proven that building a business alongside your customers is the future — not only in the world of beauty, but for all internet-first brands. Emily is truly a generation-defining entrepreneur, and I couldn’t be more bullish about Glossier’s future as I embark on founding my own company.”

For more from WWD.com, see: 

Glossier on the IPO Path

Glossier Opens NYC Flagship

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