THE WHAT? As it emerges from Chapter 11 proceedings, Revlon has announced a new Board of Directors, effective on the day its bankruptcy wraps – which is expected imminently. Elizabeth A Smith has been named Executive Chair while President and CEO Debra Perelman will continue in her role and remain on the Board.
THE DETAILS Further Board Members include Sephora’s former Global President and CEO, Martin Brok; Timothy McLevish, former CFO at Walgreens Boots Alliance; Hans Melotte, former President of Starbucks Global Channel Development; and Paul Pressler, Chairman of the eBay Board of Directors.
THE WHY? Perelman commented, “Bringing together this accomplished group of individuals for the benefit of all our stakeholders is a testament to the strength of our brands and future growth potential of the Company. Upon emergence, we will have the capital structure and financial resources necessary to invest for the future, serve our loyal customers with high-quality beauty products they know and love, and introduce our beloved brands to the next generation of Revlon consumers around the world.”
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