Revlon CEO Debra Perelman exits
Revlon CEO Debra Perelman has stepped down from her role after five years at the company.
Elizabeth Smith, current Executive Chair of the Revlon Board of Directors, will takeover as interim CEO.
The company said Perelman would stay on as an advisor to Revlon for a transition period to ensure a "smooth transition".
Speaking about her exit from Revlon, Perelman said: "It has been an honour to lead the talented and dedicated Revlon team over the past five years, and I am grateful to my colleagues for their partnership and support throughout this time.
"With a successful financial restructuring behind us, I believe now is the right time to pass the torch. Revlon’s simplified capital structure and significantly reduced debt have positioned the company for long-term growth. I have every confidence in the company’s future success."
The news follows Revlon's emergence from Chapter 11 bankruptcy in May. The company fell into administration in June 2022, after facing supply chain issues and large debt.
As part of its financial restructuring process, Revlon also formed a new Board of Directors, including former Sephora CEO Martin Brok, former Walgreens Boots Alliance CFO Timothy McLevish, and eBay Chairman Paul Pressler, amongst others.
