Parenting benefits startup Cleo names new CEO after a five-month search:
into the company’s culture and cofounder in June. At the time, current and former employees took issue with Cleo’s office culture, particularly towards working parents. Its cofounder and CEO, Shannon Spanhake, was also found lying and exaggerating about her own background. Spanhake, who had stayed on as an interim CEO, was part of the search process, but is no longer with the company or on Cleo’s board.
Since the report, the company claims it has made changes to the culture, like instituting a parent support committee, and rethinking its flex time policy and family-friendly team-building events. “In my opinion, Cleo should be—I won't be so bold to say the standard-setter of the industry—but we should certainly be able to be sharing best practices, especially with startups. I think a lot of it is already there today, but to me, it’s just this massive opportunity to do even more,” Sacchetti said.
The company lost around a dozen employees in the last six months, but overall, headcount has doubled in 2019 to reach 100 people, including Cleo’s “Guides” that are assigned to every family on its platform. and teamed up with companies like Dadi, whichand male fertility testing. It’s also expanding its Cleo Kids product, which helps parents with kids up to age five, with new programs around child development.
“I think the biggest challenge today is focusing on what the product path is —not because there isn’t anything to do, but because there’s actually so many directions we could go in,” Sacchetti said.
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