THE WHAT? Revlon has announced that Debra Perelman is stepping down from her role as President and CEO and a Board member with immediate effect. She will serve as an advisor to the company for an unspecified transition period.
THE DETAILS Elizabeth A Smith has been appointed Interim CEO. Smith has served as Executive Chair of the Revlon Board of Directors since May 2023 and will continue to do so. She has previously served as CEP amd Executive Chairman of Bloomin’ Brands and President of Avon Products.
THE WHY? Perelman did not disclose her next steps but said in a statement that it was the right time to ‘pass the torch’. Smith commented, “This is an exciting time for Revlon, which is well positioned for its next phase of growth with a simplified capital structure and the support of new owners. I am energized by the engagement of our new Board, which is committed to the execution of the Company’s business transformation. Along with the leadership team, I look forward to building an organization-wide culture of innovation and excellence, and to working with our retailer, supplier and distribution partners to reignite the momentum in our iconic brands.”
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