SAN FRANCISCO Bare Escentuals, a maker of mineral-based cosmetics, has announced the resignation of Diane Miles, president of wholesale and international sales.
The company now searching for a senior vice president of wholesale sales to assume the duties. Until a replacement is found, the wholesale and international sales and marketing personnel will report to Jim Taschetta, chief marketing officer, and Leslie Blodgett, chief executive officer.
“We do not believe this announcement is related to current business trends; however, the timing is not ideal. The wholesale segment has been the shining star of the business in 2007, and the growth story hinges on expansion in this channel over the next few quarters [Nordstrom’s, Macy’s, Sephora, Ulta and J.C. Penney],” stated SunTrust Robinson Humphrey analyst William Chappell. “While we do not expect her departure to impact the planned distribution expansion, we are disappointed that she did not stick around for a transition period.”
Miles, former chief executive officer of Benefit Cosmetics, a LVMH subsidiary, joined Bare Escentuals in 2006 to oversee operations. According to Chappell, Miles was expected to continue overseeing the wholesale segment but her duties had been greatly reduced as the company bulked up its senior management team. Chappell stated that he believes this is what led to her resignation.