Revlon CEO steps down

NEW YORK — Revlon has announced the departure of CEO Alan Ennis to “pursue other interests.” Succeeding Ennis is David Kennedy, who has been elected as vice chairman and interim CEO.

"I've greatly enjoyed my tenure at Revlon, and I am proud of the results we have delivered. I believe we've laid a strong foundation for continued profitable growth and the ability to reap the full benefits of the impending acquisition of the Colomer Group, including the Revlon Professional business. However, I have come to the decision that it is best for me at this time to pursue other interests,” stated Ennis.

Kennedy is currently vice chairman of the company’s board of directors and served as a senior executive of Revlon from 2002 to 2009, including as president and CEO of Revlon from 2006 to 2009.

Kennedy's appointment is effective immediately and Revlon anticipates the appointment of his successor in the near term.

"This is an exciting time for Revlon, which has enjoyed impressive growth, profitability and financial results that have enabled the transformative acquisition of the Colomer Group, including the Revlon Professional business (expected to close later this month), and the prior acquisitions of Pure Ice and SinfulColors. We believe David is the perfect choice to guide the company in the interim period through its integration of the Colomer Group, including the Revlon Professional business, and the significant growth and profit opportunities presented by this acquisition. Alan has done a terrific job at Revlon, and we appreciate Alan’s contributions and wish him continued success,” stated Ronald Perelman, chairman of Revlon's board.

Kennedy joined Revlon in 2002 as EVP and president of Revlon International. In 2006, he was first appointed CFO of Revlon and its wholly owned operating subsidiary, Revlon Consumer Products Corp., and then president and CEO and member of the board of directors. Kennedy resigned as president and CEO in May 2009 and became vice chairman, as well as assuming other senior executive roles with MacAndrews & Forbes Holdings and Scientific Games Corporation. Kennedy's business career, spanning four decades, also includes several senior management and senior financial positions with Coca-Cola and Coca-Cola affiliates, Columbia Pictures and Ernst & Young.

 

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