News Summary

Montreal-based textile manufacturing startup SRTX has appointed Sophie Boulanger as its new CEO. Boulanger, co-founder of the eyewear brand BonLook, which was acquired by FYidoctors in 2021, succeeds interim CEO Timothy Leyne. This leadership change follows the departure of founder Katherine Homuth, who stepped down as part of a $40 million USD fundraising deal. The company, known for its Sheertex rip-resistant tights, faced a valuation drop from $325 million USD to $95 million USD due to the fundraising terms. Boulanger aims to scale SRTX’s operations and drive sustainable growth while acknowledging the contributions of Homuth. The company plans to optimize its staffing strategy to support its expansion.