SAN FRANCISCO Bare Escentuals, a maker of mineral makeup, has announced the departure of two board members who are partners in JH Partners, a private equity firm.
According to a filing with the Securities and Exchange Commission, Michael John, a member of the board of directors, will not stand for re-election at the company’s annual meeting in May. In addition, John Hansen, also a member of the board of directors, will resign from the board, effective April 15.
JH Partners’ institutional funds distributed all of the shares of the company’s common stock held by them to their various partners in November 2007. As a result, JH Partners’ funds no longer hold a significant interest in the company’s common stock, and Hansen and John have decided to leave the board to focus on other matters. According to the company, their decision is not the result of any disagreement within the company.