First woman named CEO of Revlon
Cosmetics giant taps Debra Perelman, 44.
Revlon has named the first woman CEO in its 86-year history — Debra Perelman, the daughter of the cosmetics and beauty company’s billionaire board chairman, Ronald Perelman.
Amid heightened competition and steep losses, the New York City-based company tapped Perelman for the chief executive post and presidency Wednesday, four months after she was named as Revlon’s chief operating officer.
Perelman’s résumé also includes a more than 20-year career in other positions at Revlon and MacAndrew & Forbes, the corporate management and acquisition firm headed by Ronald Perelman.
As both a Revlon executive and board member, Perelman, 44, has overseen corporate strategy and led a continuing transformation to digital retail marketing and sales, the company said.
She formed a data and analytics group to help drive the transition to ecommerce and launched a partnership with the
MIT Media Lab to explore ways to disrupt the industry, Revlon said.
In her new corporate positions, she will focus on enhancing Revlon’s “consumer- and customer-focused approach,” the company said.
“I love Revlon not only as a company, but as a culture of employees and executives who are committed to delivering women and men the best products in our industry,” Perelman said in a statement about her new role. “I am commit- ted to driving the company to compete and thrive in today’s dynamic environment and encouraging our talented team’s entrepreneurial spirit, agility and bold creativity.”
Paul Meister, who had been overseeing Revlon’s day-to-day operations on an interim basis since January, will continue in his role as executive vice chairman of the company’s board of directors, the firm said.
Meister filled in after the departure of former Revlon CEO Fabian Garcia, who departed in what the company characterized as a move to “pursue other opportunities.”
Ronald Perelman, a successful business dealmaker and corporate raider, as well as one of the nation’s wealthiest individuals, bought Revlon in 1985. The company manufactures, markets and sells beauty and personal care products, including its Revlon and Almay makeup brands, and Charlie and Jean Naté fra- grances. Revlon also owns Elizabeth Arden, a maker of prestige fragrances.
Like many retailers, Revlon has struggled with U.S. consumers’ move away from traditional brick-and-mortar stores. Debra Perelman will lead the company’s battle against an increasing array of online-only beauty product marketers that sell via Amazon and other e-commerce platforms, as well as specialty store competitors such as Sephora and Ulta.
Announcing first-quarter results on May 10, Revlon reported $560.7 million in net sales, down 5.7% from $594.9 million for the same period last year. It reported a $61.7 million operating loss, compared with a $43.1 million loss for the previous year’s first quarter.
Revlon also said it experienced $20 million in net sales reductions due to disruptions at the company’s Oxford, N.C., manufacturing facility.