Two More C-Level Executives Leave Fab

Fab Chief Product Officer Allison Rutledge-Parisi and Chief Financial Officer David Lapter have left the company, The Wall Street Journal reports.

Rutledge-Parisi was expected to depart. She was given notice during a round of layoffs in November. Fab's co-founder Bradford Shellhammer and COO Beth Ferreira have also left in recent months.

"We're thankful and grateful for David's two years of tireless service to Fab and we appreciate decision to leave Fab to spend more time with his family," a Fab spokesperson told WSJ's Spencer Ante. "We have been recruiting for a new CFO since January 1, 2014 and we are talking to some great candidates."

Howard Morgan, a Fab investor through First Round Capital, tells Ante: "Everyone realizes that Fab is going through a transition and it is not easy. I don't think there is an IPO in our immediate future."