Nutrafol, the Unilever-owned hair growth brand, has appointed a new CEO.
Chief Marketing Officer Cindy Gustafson will be promoted to the position in January 2025, replacing co-founder Giorgos Tsetis.
Tsetis will become the brand’s Chairman and serve in an advisory role.
Gustafson’s aim is to build the brand’s reach and bolster its core product categories, The Business of Beauty reported.
Nutrafol offers supplements that address thinning hair for women and men at various life stages.
Unilever Ventures, the private equity arm of Unilever, became a lead investor in the supplement brand in 2017.
The investment was made during the New York-based company’s series A financing round led by the investment platform CircleUp.
Unilever acquired a majority of the business in 2022, adding it to its Health & Wellbeing branch, which includes brands such as Liquid I.V. and Onnit.
Nutrafol also broke into the skin care category in February 2024.
It launched a new daily supplement aimed at women over the age of 18 who experience mild to moderate acne.
“What we have built, and more importantly, the people we have been able to help as a result, is truly a dream realised," said Tsetis at the time.
"We have made a tremendous impact on so many lives, but we also know that women are plagued by another confidence killer, acne.
“So for the past two-and-a-half years, we have brought all of the scientific resources and research available to us at Nutrafol to develop our whole-body approach for women struggling with their skin.”
Cosmetics Business has contacted Unilever and Nutrafol for comment.