Former P&G executive joins private equity firm
NEW YORK Former Procter & Gamble chairman, president and CEO A.G. Lafley has joined private equity firm Clayton, Dubilier & Rice as a special partner.
“Private equity can be a powerful agent of constructive change and corporate renewal,” stated Lafley. “CD&R’s successful history of building long-term value by improving the operational performance of its portfolio businesses exemplifies the positive role that private equity can play in the economy and is what attracted me to the firm.”
In his 32-year career at P&G, Lafley served in a variety of leadership positions, including nine years as president and CEO. Originally brought on in P&G’s marketing division in 1977, Lafley held numerous senior management positions before being named group VP in 1992, an EVP in 1995 and, in 1999, president of global beauty care and North America. He served as CEO from 2000 to 2009 and as chairman from 2002 to 2009.
As CEO, Lafley led a dramatic transformation of P&G, which included re-focusing the company on: core businesses and brands; faster-growing and higher-margin beauty, grooming and healthcare segments; and building market share in developing countries. Under his leadership the number of P&G billion-dollar brands grew from 10 to 24, and the company more than doubled sales from $38 billion in 1999 to $79 billion in 2009. The company’s market capitalization also more than doubled.
“A.G. has proven to be one of the most effective corporate leaders of the 21st century, and we are very pleased to welcome him to CD&R,” stated Donald J. Gogel, president and CEO of CD&R. “His experience building strong business operations, promoting innovation, and spurring growth across global markets enhances our value creation capabilities.”
Lafley is on the board of directors of General Electric and has served as a director at General Motors Corp. and Dell Inc. during the last five years. He also serves as chairman of the Hamilton College Board of Trustees.
Revlon gears up for EIF Revlon Run/Walk for Women
LOS ANGELES Revlon brand ambassadors Halle Berry, Jessica Alba and Jessica Biel, along with Dr. Oz and Jesse Martin, will host the 2010 Entertainment Industry Foundation Revlon Run/Walk for Women with a performance by Trey Songz in New York on May 1.
The following week Julie Bowen of ABC’s “Modern Family” and Carrie Ann Inaba of ABC’s “Dancing with the Stars” will co-host the Los Angeles Run/Walk on May 8 during Mother’s Day weekend.
The EIF Revlon Run/Walk event is one of the nation’s largest single-day fundraisers to support women’s cancer research, counseling and outreach programs in New York City and Los Angeles.
The 13th annual New York race starts in Times Square and finishes in the East Meadow of Central Park. It attracts nearly 25,000 participants. The 17th annual Los Angeles race takes place at the Los Angeles Memorial Coliseum at Exposition Park and attracts close to 45,000 participants each year. The EIF Revlon Run/Walk for Women was launched in 1993 through the combined efforts of Lilly Tartikoff, Ronald O. Perelman, chairman of Revlon Inc., and EIF. Since its inception, nearly $58 million in grants have been made from the combined events in New York and Los Angeles.
“Throughout the years, this event has touched hundreds of thousands of women, men and families who have been personally affected by cancer. Through their participation, undying support and commitment to find a cure we have been able to make the EIF Revlon Run/Walk one of the nation’s largest and most successful events,” stated Perelman, who also serves as co-founder of the Revlon/UCLA Women’s Cancer Research Program.
EcoTools expands its offerings
NEW YORK EcoTools, a maker of earth-friendly cosmetic brushes, bath and body care products and accessories, is launching a string of new products for 2010.
Launched in March at Rite Aid stores nationwide are two new fragrances for body mists, a body scrub and a body butter. Ingredients for the entire EcoTools bath and body care collection are 98% from nature and formulas are paraben-free, phthalate-free, sodium lauryl sulfate-free and cruelty-free.
The new Passion for Change body mist ($5.99) features organic botanical extracts. The new and improved Blooming Planet body mist ($5.99) returns with a revised floral fragrance.
The new Polished & Protected body scrub ($5.99) is an earth-friendly exfoliating scrub that contains crushed walnut shells to gently remove dry, flaky skin.
Also new is Replenish Your Natural Resources body butter ($5.99). Enriched with mango butter that hydrates skin, the body butter exudes a warm lavender, vanilla fragrance.
Hitting Target stores as of March is the new EcoPouf from EcoTools ($1.99). The EcoPouf, available in light green, cream and chocolate brown colors, takes the traditional net sponge to the next level with its earth-friendly components. The company is also launching four additional bath accessories for spring: Bamboo foot brush & file ($3.99), EcoTools moisture gloves ($3.99), EcoTools moisture socks ($3.99) and an EcoPumice smoothing stone ($1.99).
Also new for 2010 is the EcoTools 6 piece eye brush set ($7.99), which has all of the tools a girl needs to achieve a variety of makeup looks. There’s also a new bronzer brush ($3.99). In addition, the deluxe concealer brush ($3.99) is now sold on its own.