NEW YORK--(BUSINESS WIRE)--
Revlon Consumer Products LLC (NYSE:REV) announced today that Mr. Juan Figuereo, Chief
Financial Officer, is retiring from the Company. Mr. Figuereo joined
Revlon in April 2016 and played a key role in the acquisition of
Elizabeth Arden. With the acquisition complete and the integration now
underway, Chris Peterson, Chief Operating Officer, Operations, who
currently oversees the Company's finance function, as well as supply
chain and IT, will assume direct responsibility for the CFO role,
effective immediately.
Prior to joining Revlon, Mr. Peterson served in a number of senior
executive positions at Ralph Lauren Corporation, including most recently
as its President, Global Brands, a position he held since 2015, as well
as having served as its Chief Financial Officer from 2012 to 2015. In
this role, Mr. Peterson was responsible for overseeing Ralph Lauren's
Global Brand Presidents, Investor Relations, Information Technology &
Real Estate. From 2014 to 2015, Mr. Peterson was Executive Vice
President, Chief Administrative Officer and Chief Financial Officer at
Ralph Lauren and joined the company in 2012 as its Senior Vice President
and Chief Financial Officer. Prior to joining Ralph Lauren, Mr. Peterson
spent 20 years at The Procter & Gamble Company in management and
financial leadership roles of increasing responsibility.
Commenting on today's announcement, Mr. Garcia said, "I'd like to thank
Juan for his contributions and leadership throughout the successful
acquisition of Elizabeth Arden and the early stages of its integration.
Our integration is on track and, as we have reported, exceeding our
initial synergy expectations. We are excited to have Chris take on the
CFO role in order to continue this momentum as we execute on our
strategy to drive long-term growth."
About Revlon Consumer Products LLC
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® portfolio of brands,
including its leading designer, heritage and celebrity fragrances.
Today, the Revlon Beauty's Group's diversified portfolio of brands is
sold in approximately 150 countries around the world in most retail
distribution channels, including mass, salon and prestige. Revlon ranks
among the top 20 global beauty companies, with product offerings in
color cosmetics, skincare, hair color and care, beauty tools, men's
grooming products, anti-perspirant deodorants and other beauty care
products fragrances under brands such as Revlon, Elizabeth Arden, Revlon
ColorSilk, Revlon Professional, American Crew, Almay, Mitchum,
Cutex, Elizabeth Taylor, Britney Spears, Juicy Couture, Curve, John
Varvatos and Christina Aguilera. 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 and are subject to the
Private Securities Litigation Reform Act of 1995. 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, statements as to the Company's expectations and
beliefs that: (i) our integration of Elizabeth Arden is on track and, as
we have reported, exceeding our initial synergy expectations; and (ii)
Chris is taking on the CFO role in order to continue this momentum as we
execute on our strategy to drive long-term growth. 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 Annual Reports 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 2017 (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, delays in and/or
the Company's inability to achieve, in whole or in part, or within the
expected timeframe, the benefits of the Elizabeth Arden integration
synergy program, such as: (A) difficulties with, delays in and/or the
Company's inability to realize, in whole or in part, its expected
synergies and cost reductions, such as due to the parties being unable
to successfully implement integration strategies or realize the
anticipated benefits of the acquisition; and/or (B) more than expected
restructuring and related charges in connection with implementing the
Elizabeth Arden integration; and/or (ii) difficulties with, delays in
and/or the Company's inability to execute its strategy and deliver
long-term growth, such as due to unanticipated circumstances or results
affecting the Company's financial performance, 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 third party suppliers; changes in
consumer preferences, such as reduced consumer demand for the Company's
products or lower than expected customer and/or consumer acceptance of
the Company's existing or new products; 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
and/or inventory management by the Company's customers; changes in
consumer purchasing habits, including with respect to retailer
preferences and/or among sales channels; and/or higher than expected
synergy and integration program costs and expenses. Factors other than
those listed above could also cause the Company's results to differ 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: http://www.businesswire.com/news/home/20170606005578/en/
Investor Relations:
Siobhan Anderson, 212-527-5230
or
Media
Relations:
Pamela Gill Alabaster, 212-527-5863
Source: Revlon Consumer Products LLC