NEW YORK--(BUSINESS WIRE)--Mar. 28, 2016--
Revlon, Inc. (NYSE:REV) announced today that its Board of Directors
elected Fabian T. Garcia as Revlon’s President and Chief Executive
Officer, effective April 15, 2016. Fabian was also appointed to serve as
a member of Revlon’s Board of Directors, as well as the Board of
Revlon’s wholly owned operating subsidiary, Revlon Consumer Products
Corporation (“RCPC”).
Over the last 13 years, Fabian has served in a number of leading roles
at the Colgate-Palmolive Company, including leading the company’s
businesses in Asia-Pacific, Eurasia, Latin America, and most recently,
Europe and the Hills Pet Nutrition business. As COO of Global Innovation
and Growth, Fabian had responsibility for Colgate-Palmolive’s growth
strategy, consumer and customer innovation, and operational productivity
strategies and plans. Fabian also led the company's innovation strategy,
focusing on new business models, core categories, and emerging business
opportunities.
Prior to Colgate-Palmolive, Fabian worked at the Timberland Company
managing Timberland’s International operations.
Prior to Timberland, Fabian was President of Chanel in the Asia-Pacific
region, responsible for the Chanel Fashion, Fine Jewelry and Watches and
Fragrance and Beauty lines in the region, where he drove growth and
expansion in to new markets.
Fabian started his career in the Procter & Gamble Company, progressing
through assignments of increased responsibility in Marketing and General
Management, in Venezuela, the United States, Colombia, Taiwan and Japan.
His last assignment in P&G was as President of the Max Factor business
in Japan and Asia Pacific.
“I am honored to join Revlon during such an exciting period of renewed
growth and innovation,” said Fabian, 56. “Revlon is a true global market
leader setting the highest standard for beauty and quality. I look
forward to joining this extraordinary team to help continue to drive
growth and innovation and to continue to deliver strong results for our
customers around the world.”
Commenting on today’s announcement, Ronald O. Perelman, Chairman of
Revlon said, "I want to welcome Fabian as Revlon’s President and CEO.
Fabian has demonstrated a long track-record of success at Colgate in
terms of driving growth and profitability, and in successfully leading
and expanding global organizations. He has the global strategic,
marketing, sales, financial and operational leadership experience to
successfully lead Revlon into the future.”
About Revlon:
Revlon is a global cosmetics, hair color, hair care and hair treatments,
beauty tools, men’s grooming products, anti-perspirant deodorants,
fragrances, skincare, and other beauty care products company, which
operates in three segments, the consumer division (“Consumer”), the
professional division (“Professional”) and Other. Revlon’s Consumer
segment global brand portfolio includes Revlon® color cosmetics, Almay®
color cosmetics, SinfulColors® color cosmetics, Pure Ice® color
cosmetics, Revlon ColorSilk® hair color, Revlon® Beauty Tools, Charlie®
fragrances, and Mitchum® anti-perspirant deodorants. Revlon’s
Professional segment global brand portfolio includes: Revlon
Professional®, CND®, including CND’s Shellac® brand 14+ day nail color
and Vinylux® weekly nail polish, and American Crew® men’s grooming
products. Websites featuring current product and promotional information
can be reached at www.revlon.com,
www.almay.com,
www.mitchum.com,
www.revlonprofessional.com,
www.americancrew.com
and www.cnd.com.
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 Company's following estimates, beliefs,
expectations, focus and/or plans: (i) Mr. Garcia’s looking forward to
joining the Company’s extraordinary team to help continue to drive
growth and innovation and to continue to deliver strong results for our
customers around the world; and (ii) Mr. Perelman’s belief that Mr.
Garcia has the global strategic, marketing, sales, financial and
operational leadership experience to successfully lead Revlon into the
future. 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 2015 Annual
Report on Form 10-K that we filed with the SEC in February 2016 and our
Quarterly Reports on Form 10-Q and Current Reports on Form 8-K that we
have filed or will file with the SEC during 2015 and 2016 (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: unanticipated
circumstances or results affecting the Company's future financial
performance, including decreased consumer spending in response to weak
economic conditions or weakness in the consumption of beauty care
products in the Consumer, Professional and/or Other segments; adverse
changes in foreign currency exchange rates, foreign currency controls
and/or government-mandated pricing controls; 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 color cosmetics and other current products,
including new product launches; changes in consumer purchasing habits,
including with respect to retailer preferences and/or among professional
salons; higher than expected restructuring costs and/or
acquisition-related integration costs; 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, 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; and/or difficulties, delays in or less than
expected results from the Company’s efforts to grow profitability
through intensive innovation and geographical expansion, such as less
than effective product development and/or the Company's inability to
consummate transactions to expand its geographical presence. 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: http://www.businesswire.com/news/home/20160328005332/en/
Source: Revlon, Inc.
Investor Relations and Media Contact:
212-527-5230