Revlon, Inc. (NYSE: REV) today announced that its Board of
Directors has appointed Mr. Sergio Pedreiro to serve as the
Company’s Chief Operating Officer, effective immediately. In this
role, Mr. Pedreiro will be central to restructuring and
transforming the Company’s business operations, improving
efficiency and building upon the Company’s strong foundation for
achieving growth. Mr. Pedreiro will officially join the Company on
January 8, 2020 and he will report to Revlon’s President and
CEO, Debra Perelman.
Prior to joining Revlon, Mr. Pedreiro served in a number of
senior executive positions across a diverse array of industries.
From 2009 to 2014, Sergio was Chief Financial Officer at Coty Inc.
While at Coty, Sergio led and executed a restructuring plan and
reorganized the divisions that reported to him, created new teams,
strengthened governance and accelerated business transformations.
As a result of this work, he led Coty to achieve higher margins and
significantly improved cash flow, leaving Coty with a stronger and
healthier capital structure. Sergio most recently served as CEO of
Estre Ambiental S.A., a NASDAQ-listed waste management company in
Brazil, a position he held since 2015, after joining that company
as a director in 2011. In this role, Sergio launched a plan to
deliver top-line growth and margin expansion that resulted in
double-digit year-over-year EBITDA growth for that company.
Commenting on today’s announcement, Debra Perelman, Revlon’s
President and Chief Executive Officer, said, "Sergio brings to
Revlon a wealth of operational and restructuring expertise, as well
as decades of experience from leading international organizations
across a diverse array of industries. As we enter 2020, which will
be a year of continuing significant transformation and change for
Revlon, Sergio will be an important addition to Revlon’s team and I
am confident that he will use his talents to help us execute and
achieve our strategic goals.”
“I am excited to join Revlon as COO at this transformational
time, not only for the Company, but also for the beauty industry as
a whole,” said Mr. Pedreiro. “I look forward to working with Debbie
and Revlon’s team to drive Revlon’s transformation, enhance our
efficiency and cement Revlon’s position in the market as a global
beauty leader.”
ABOUT REVLON
Revlon has developed a long-standing reputation as a color
authority and beauty trendsetter in the world of color cosmetics
and hair care. Since its breakthrough launch of the first opaque
nail enamel in 1932, Revlon has provided consumers with high
quality product innovation, performance and sophisticated glamour.
In 2016, Revlon acquired the iconic Elizabeth Arden company and its
portfolio of brands, including its leading designer, heritage and
celebrity fragrances. Today, Revlon's diversified portfolio of
brands is sold in approximately 150 countries around the world in
most retail distribution channels, including mass, salon and
prestige and online direct to consumer. Revlon is among the leading
global beauty companies, with some of the world’s most iconic and
desired brands and product offerings in color cosmetics, skin care,
hair care, hair color and fragrances under brands such as Revlon,
Elizabeth Arden, Revlon ColorSilk, Revlon Professional, American
Crew, Almay, Cutex, Elizabeth Taylor, Christina Aguilera, Britney
Spears, Juicy Couture, Curve and John Varvatos. Please visit
http://www.revlon.com for the latest news and information about
Revlon and its brands.
Forward Looking Statements
Statements made in this press release, which are not historical
facts, including statements about the Company's plans, strategies,
focus, beliefs and expectations, are forward-looking.
Forward-looking statements speak only as of the date they are made
and, except for the Company's ongoing obligations under the U.S.
federal securities laws, the Company undertakes no obligation to
publicly update any forward-looking statement, whether to reflect
actual results of operations; changes in financial condition;
changes in general U.S. or international economic, industry or
cosmetics category conditions; changes in estimates, expectations
or assumptions; or other circumstances, conditions, developments or
events arising after the issuance of this press release. Such
forward-looking statements include, without limitation, the
following: (i) the Company’s belief that Mr. Pedreiro will be
central to restructuring and transforming the Company’s business
operations, improving efficiency and building upon the Company’s
strong foundation for achieving growth; (ii) the Company’s belief
that 2020 will be a year of continuing significant transformation
and change for Revlon and that Mr. Pedreiro will be an important
addition to Revlon’s team and will use his talents to help the
Company execute and achieve its strategic goals; and (iii) the
Company’s plans to drive Revlon’s transformation, enhance its
efficiency and cement Revlon’s position in the market as a global
beauty leader. Actual results may differ materially from such
forward-looking statements for a number of reasons, including those
set forth in our filings with the SEC, including, without
limitation, our 2018 Annual Report on Form 10-K that we filed with
the SEC in March 2019 and our Annual Report on Form 10-K, Quarterly
Reports on Form 10-Q and Current Reports on Form 8-K that we have
filed or will file with the SEC during 2019 and 2020 (which may be
viewed on the SEC's website at http://www.sec.gov or on our website
at http://www.revloninc.com), as well as reasons including: (i)
difficulties with implementing, delays in implementing or
unanticipated costs or charges incurred in connection with
restructuring and transforming the Company’s business operations or
less than expected financial and/or operational benefits resulting
from such activities and/or the risk that such activities may not
satisfy the Company’s objectives; (ii) difficulties with
implementing, delays in implementing, unanticipated costs or
charges incurred in connection with or other unanticipated
circumstances or results affecting the Company's ability to
successfully implement its strategic goals, such as due to, among
other things, less than effective product development; less than
expected acceptance of its new or existing products by consumers,
salon professionals and/or other customers; less than expected
acceptance of its advertising, promotional, pricing and/or
marketing plans and/or brand communication by consumers, salon
professionals and/or customers; less than expected investment in
advertising, promotional and/or marketing activities or greater
than expected competitive investment; less than expected levels of
advertising, promotional and/or marketing activities for its new
product launches; and/or less than expected levels of execution
with its customers or higher than expected costs and expenses;
and/or (iii) unanticipated circumstances or results affecting the
Company's future financial performance, efficiency, transformation
and growth, including decreased consumer spending in response to
weak economic conditions or weakness in the consumption of beauty
care products; adverse changes in foreign currency exchange rates;
decreased sales of the Company's products as a result of increased
competitive activities by the Company's competitors and/or
decreased performance by in-house and/or third party suppliers;
changes in consumer preferences, such as reduced demand for the
Company's products, including new product launches; changes in
consumer purchasing habits, including with respect to retailer
preferences and/or sales channels; higher than expected
advertising, promotional and/or marketing expenses or lower than
expected results from the Company’s advertising, promotional,
pricing and/or marketing plans; higher than expected sales returns
related to any reduction of space by the Company's customers or
store closures, product discontinuances or otherwise or decreased
sales of the Company’s existing or new products; actions by the
Company’s customers, such as inventory management and greater than
anticipated space reconfigurations or reductions in display space
and/or product discontinuances or a greater than expected impact
from pricing, marketing, advertising and/or promotional strategies
by the Company's customers; changes in the competitive environment
and actions by the Company's competitors, including, among other
things, business combinations, technological breakthroughs,
implementation of new pricing strategies, new product offerings,
increased advertising, promotional and marketing spending and
advertising, promotional and/or marketing successes by competitors.
Factors other than those listed above could also cause the
Company’s results to differ materially from expected results.
Additionally, the business and financial materials and any other
statement or disclosure on or made available through the Company’s
websites or other websites referenced herein shall not be
incorporated by reference into this release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200106005944/en/
MEDIA:Eric Warren, Vice President, Treasurer and IRT:
212.527.4150E: Eric.Warren@Revlon.com
Revlon (NYSE:REV)
Historical Stock Chart
From Mar 2024 to Apr 2024
Revlon (NYSE:REV)
Historical Stock Chart
From Apr 2023 to Apr 2024