Revlon CEO Debra Perelman steps down

^{Revlon CEO Debra Perelman has stepped down from her role after five years, effective immediately.}

^{Elizabeth Smith, Executive Chair of the Elizabeth Arden owner’s board of directors, will take over her role as interim CEO.}

^{The change comes as the embattled beauty company emerged from Chapter 11 bankruptcy this May following a year-long battle, after falling into administration in June 2022.}

^{Smith, a former Avon President, was appointed to lead the company’s new board of directors, comprising senior executives from the likes of Sephora, Walgreens and Johnson and Johnson.}

^{“It has been an honour to lead the talented and dedicated Revlon team over the past five years,” said Perelman, adding that she has “every confidence” in the business’ future success.}

^{“With a successful financial restructuring behind us, I believe now is the right time to pass the torch.} 

^{“Revlon’s simplified capital structure and significantly reduced debt have positioned the company for long term growth.”}

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^{“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,” added Smith.}

^{“Along with the leadership team, I look forward to building an organisation-wide culture of innovation and excellence, and to working with our retailer, supplier and distribution partners to reignite the momentum in our iconic brands.”}

^{Revlon is the owner of brands including Revlon, Elizabeth Arden, Mitchum and Almay, as well as holding fragrance licences for the likes of Britney Spears, Elizabeth Taylor and Juicy Couture.}