US beauty brand Revlon has announced that its CEO Alan Ennis has decided to leave the company to “pursue other interests”.
In the meantime, David L Kennedy has been elected by the Board of Directors as Vice Chairman and Interim Chief Executive Officer. Kennedy is currently Vice Chairman of the company's Board of Directors and served as a senior executive of Revlon from 2002-2009, and as President and Ceo of Revlon from 2006-2009.
Ennis said: “I've greatly enjoyed my tenure at Revlon and I am proud of the results we have delivered. I believe we've laid a strong foundation for continued profitable growth and the ability to reap the full benefits of the impending acquisition of The Colomer Group, including the Revlon Professional business. However, I have come to the decision that it is best for me at this time to pursue other interests.”
Ronald Perelman, Chairman of Revlon's Board, added: “This is an exciting time for Revlon, which has enjoyed impressive growth, profitability and financial results, which have enabled the transformative acquisition of The Colomer Group, including the Revlon Professional business (expected to close later this month), and the prior acquisitions of Pure Ice and SinfulColors. We believe David is the perfect choice to guide the company in the interim period through its integration of The Colomer Group, including the Revlon Professional business, and the significant growth and profit opportunities presented by this acquisition. Alan has done a terrific job at Revlon and we appreciate Alan’s contributions and wish him continued success.”