BUZZ-Rent the Runway co-founder Jennifer Hyman to step down as CEO; shares fall

Rent the Runway

RENT

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** Shares of apparel rental firm Rent the Runway RENT.O down as much as 16.7% at $3.7 - lowest since November

** Co says co-founder Jennifer Hyman will step down as CEO, president, and board member, effective May 15

** Names Teri Bariquit, current board member and a 37-year retail veteran, as interim CEO

** Adds that Bariquit will lead the company with the support of Executive Chairman Dhiren Fonseca and the board, which will conduct a thorough search for next CEO

** RENT reaffirms the annual forecasts provided on April 14

** Up to last close, stock down about 50% YTD

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