Wella Company has named Calvin McDonald as its new CEO, effective 2 April.
Based in New York, McDonald will also join the board of directors at the beauty company, which owns hair care brands such as Wella, Clairol and Briogeo, nail line OPI, and hair tool brand GHD.
McDonald joins the company from athleisure clothing brand Lululemon, where he has been CEO for seven years, overseeing significant growth, including more than tripling revenue and expansion to over 30 markets.
He succeeds Annie Young-Scrivner, who departed Wella last year.
Wella’s Executive Chair Glenn Murphy, who has been overseeing the business in the interim, will remain in his role to “provide continuity as well as strategic advice to the new CEO and the leadership team”, the company said in a statement.
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“We are delighted to welcome Calvin to The Wella Company,” said Murphy.
“As a three-time CEO, he brings decades of experience at industry-leading global consumer brands and retail businesses.
“Calvin's proven ability to drive results through product differentiation, category expansion, and smart investments will help us win in the dynamic beauty sector.”
McDonald has held several prominent leadership positions, including President and CEO of Sephora Americas, where he oversaw five consecutive years of double-digit growth at the LVMH-owned retailer.
He was also President and CEO of the department store chain Sears Canada and spent nearly two decades at Canadian retailer Loblaw Companies.
The move comes amid speculation that Wella Company’s private equity owner, KKR, is allegedly planning to take the company public this year.
Commenting on the appointment, Nancy Ford, Partner at KKR, said: “We are pleased with the growth that Wella has achieved since our initial investment and are confident that Calvin is the right leader to build on that foundation and propel the company into its next chapter.
“We thank Glenn for his leadership of The Wella Company and look forward to working with him in his new capacity, alongside Calvin and the broader leadership team as they continue to further Wella's success and reach in the beauty sector globally.”