Neom co-founder steps down after 18 years

By Alessandro Carrara | Published: 23-Oct-2023

Isabel Malbois will succeed Oliver Mennell as CEO, and most recently served as the skin care and home fragrance brand’s Managing Director

Neom co-founder Oliver Mennell has stepped down as CEO after 18 years.

Mennell will become a non-executive chair, serving in an advisory role to the wellbeing and home fragrance brand. 

He said this will allow him to remain as an “integral part” of the business while also supporting the executive team.

Isabel Malbois has been appointed as the brand’s CEO in Mennell’s place, effective immediately.

She has worked for Neom for the past two years, initially as Global Commercial Director and then more recently as Managing Director.

“I believe this is the perfect moment to pass on the baton,” said Mennell.

“Isabel, who has been an integral part of our team for the past two years, has consistently demonstrated an exceptional understanding of our business.

“Her expertise in guiding companies towards greater heights aligns perfectly with Neom's vision as we continue to expand, both within the UK and internationally.”

Malbois said she will work closely with founder Nicola Elliott on expanding the business’ reach in 2024

The brand previously partnered with retailer Anthropology in 2021 to launch into the US and Canada markets.

Neom’s range of body care and wellbeing products are also stocked across 12 European countries.

Prior to joining Neom, Malbois spent 14 years with L'Oréal serving in several senior roles and overseeing the Georgio Armani and Urban Decay brands.

“It is an absolute privilege to step into this role and lead the brilliant team at Neom as we continue our journey of promoting wellness and self-care worldwide,” added Malbois.

“I want to express my deep gratitude to Oliver Mennell and Nicola Elliott for their trust and confidence in me.”

Neom was established by Mennell and Elliot in 2005 with the aim of bringing more wellbeing products to UK customers.

Private equity firm Piper invested a minority stake into Neom in 2017 to support the brand in expanding its product range, developing its senior team and opening additional stores. 

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