JuE Wong is leaving hair care company Olaplex after more than three years as CEO.
The seasoned beauty executive joined the bond-building brand in January 2020 and helped it become a leading hair care player.
Wong said her time with the company has been “an incredible ride”.
John Bilbrey, Executive Chair at Olaplex, will serve as interim CEO until Supergoop boss Amanda Baldwin will join as Wong's replacement in 2024.
Olaplex and Wong did not provide a reason for the separation, but the executive's departure comes after a rough patch for the hair care company.
Olaplex’s sales crashed by nearly half in the second quarter of 2023.
It has since lowered its forecast for the financial year due to this weaker than expected performance.
The company has also been dogged by increased competition from the likes of K18 and Redken Bonding, as well as some bad publicity.
This included a class action lawsuit alleging its products cause hair loss, which the company has vehemently denied.
Despite the court granting Olaplex’s motion to sever and dismiss the claims, the brand has been working hard to get back on top.
This included a recent tongue-in-cheek social media campaign which poked fun at TikTok’s dupe culture.
Commenting on her departure, Wong added: “I appreciate the opportunity to help serve our team, partners, creators and professional stylists – all of whom have played a special role in our success.
“I cannot wait to see all that Olaplex accomplishes in the years to come and will remain a loyal and committed champion of the brand.”
Bilbrey described Wong as an "industry leader and committed champion of the brand over the past three years".
“Creating market interest in the wholly new bond-building space within the prestige beauty category while guiding the company through major milestones," he continued.
“Including navigating our initial public offering and scaling Olaplex to an international brand.”
Who is Olaplex’s new CEO?
Amanda Baldwin will join Olaplex as CEO in early 2024
Wong’s successor is beauty industry veteran Amanda Baldwin.
She will join the hair care brand as CEO in early 2024 and also sit on its Board of Directors.
Baldwin has served as CEO of SPF skin care brand Supergoop for the past seven years.
Other notable roles include Senior Vice President at investment firm L Catterton from 2012 to 2016.
As well as leading the omnichannel marketing strategy of Dior Beauty from 2008 to 2012.
“It is a privilege to join the company at this pivotal time in its evolution,” said Baldwin.
“I see tremendous opportunity to help the brand and the business reach their full potential.
“By further deepening engagement with stylists, retailers and consumers through breakthrough product innovation, sharp storytelling and a dynamic global omnichannel strategy.”
Baldwin was picked for the role because of her history of growing prestige beauty brands.
"She is an effective and creative brand builder who deeply understands consumer insights,” said Bilbrey.
“Her valuable mix of strengths across marketing, product development and execution make her the ideal person to position Olaplex for long term success."