Jessica Alba's Honest Company names Clorox veteran as new CEO

Honest Company, the maker of green cleaning and baby care products co-founded by actress Jessica Alba, has named former Clorox COO Nick Vlahos as its new CEO. Vlahos is replacing co-founder Brian Lee, who will remain on the company's board and as an advisor.

Lee, who previously founded ShoeDazzle and LegalZoom, is the third departure from the management team. In December, president and co-founder Sean Kane and CFO David Parker stepped down.

Why it matters: Though Honest Company, which sells its products online and through retailers like Target, reached $300 million in sales last year, it also faced several lawsuits over chemicals in some of its products and closed its Austin office. There were also rumors that the company was in talks last year to sell to Unilever, which instead acquired Seventh Generation, another maker of eco-friendly cleaning products.