Hayley Barna, who co-founded beauty ecommerce startup Birchbox with Katia Beauchamp, is no longer co-CEO, a role she's held since the company launched in 2010.
"Five years after co-founding Birchbox, Hayley has stepped away from her day-to-day role," Birchbox chief communications officer Claire Paull said in a statement. "Birchbox would not be the company it is today without her. While we very much miss having her in the office each day, she will always remain an integral part of the company and will continue to be actively involved as an advisor and member of the Board of Directors."
Beauchamp will continue to lead the company as CEO, the company confirmed. The news was first reported by Fortune.
Birchbox is attempting to redefine itself in consumers' eyes as a full-fledged beauty ecommerce site. The majority of the company's revenue still comes from its subscription service, in which members pay $10 per month for a box of beauty samples. However, 35 percent of its revenue now comes from the sale of full-sized products, Beauchamp recently said.
To date, Birchbox has raised more than $71 million in funding. Its last round, a $60 million Series B in April, valued the company at between $400 and $500 million.
The company is looking to raise a Series C round, which would likely value it at around $750 million, Fortune reports.