Colgate-Palmolive adds two members to board of directors
NEW YORK Colgate-Palmolive appointed Helene Gayle, president and CEO of Care USA, and Joseph Jimenez, CEO of Novartis AG, to serve on its board of directors, effective March 1.
The company also announced that Jill Conway, a director since 1984, will retire from the board, effective May 7 at the end of her current term. Former president of Smith College, Conway has contributed to the company’s success for 26 years, especially through her focus on Colgate’s “pay per performance” programs, leadership succession practices and global diversity initiatives, the company stated.
Gayle currently guides the strategy and management of Care USA, a humanitarian organization. As an expert in the global public health field, she brings to Colgate’s board an understanding of the importance of health and hygiene around the world where Colgate’s oral and personal care products are sold.
Jimenez was named CEO of Novartis AG in January 2010, having previously led Novartis Pharmaceuticals and Novartis Consumer Health units beginning in 2007. Jimenez, whose experience also includes serving as former president and CEO of Heinz Europe and Heinz North America, brings to the board leadership experience in the consumer products industry.
Sales down for Revlon in Q4
NEW YORK Lower sales of Revlon and Almay color cosmetics, as well as Mitchum antiperspirant/ deodorant, hampered Revlon’s fourth quarter and resulted in a 6.3% drop in U.S. net sales.
For the quarter ended Dec. 31, net sales in the United States were $187 million, down $12.6 million, or 6.3%, compared with $199.6 million in the year-ago period. Revlon stated that the decline was driven primarily by lower net sales of Revlon and Almay color cosmetics and Mitchum, partially offset by higher net sales of Revlon ColorSilk hair color.
Total net sales for the quarter were $344.6 million, compared with $334.2 million in the year-ago period, an increase of 3.1%. Excluding favorable foreign currency fluctuations of $16.8 million, total net sales slipped by 1.9%.
Net income during the quarter was $12.8 million, or 24 cents per diluted share, compared with $11.3 million, or 22 cents per diluted share, in the year-ago period.
Net cash provided by operating activities during the quarter totaled $32.3 million, compared with net cash used in operating activities of $10.8 million in the year-ago period. Free cash flow in the quarter was $28.2 million, compared with negative free cash flow of $12.9 million in the same period last year.
The beauty company noted that for the first half of 2010 it is launching several new key products including:
- Revlon PhotoReady Makeup, which contains photochromatic pigments that bend and reflect light to give a flawless, airbrushed appearance in any light. The ad campaign promoting the launch will feature actress and Revlon spokesperson Halle Berry.
- Revlon ColorBurst Lipstick, which features elasticolor technology that provides an instant burst of rich, true color that feels virtually weightless on the lips. The ad campaign for Revlon ColorBurst Lipstick, which is available in 20 shades, will feature actress and Revlon spokesperson Jessica Alba.
Goody debuts Simple Styles collection
ATLANTA, Ga. Goody, a manufacturer of hair accessories and styling tools, is launching for 2010 its new Simple Styles collection, a line of easy-to-use tools to help women achieve the hottest styles at home.
Simple Styles accessories are specifically designed for all hair types and allow women to create the perfect undone bun, voluminous ponytail, volume boost or modern twist.
The line, available in both blonde and brunette shades, includes:
- Goody Simple Styles Spin pin for the perfect undone bun
- Goody Simple Styles Pony Pouf clip for the perfect “piece-y” pony
- Goody Simple Styles Modern Updo pin for a French twist in seconds
- Goody Simple Styles Volume Boost comb for achieving professional volume at home.
The styling tools have a suggested retail price of $6.49 each and will be available at Target, CVS and Walgreens in March and Walmart and Duane Reade in May.