Hain Celestial’s finance chief to retire
MELVILLE, N.Y. — Hain Celestial announced that EVP and CFO Ira Lamel will retire from the company.
Lamel will remain with Hain Celestial until a successor is named and to ensure an orderly transition, according to the company, which has commenced a global search for Lamel’s replacement. Lamel, 65, joined the company in 2001.
"Working with Ira has been an absolute pleasure. Ira has been a key member of our management team and a valuable adviser," Hain Celestial founder, president and CEO Irwin Simon said. "Ira’s tireless contributions and commitment have been instrumental to the growth of the company. His accomplishments include building a first-rate finance team, working on numerous worldwide acquisitions, facilitating our bank financings and our dealings with the Wall Street investor community including analysts and investors — all actions that have positioned the company for sustainable long-term growth. Ira has been a strong ally for the company, for me, and the rest of the management team. We are all happy for Ira and his family and wish them well."
Original SoupMan makes national debut
NEW YORK — SoupMan said it is bringing a line of shelf-stable soups to retailers nationwide.
The company said its The Original SoupMan brand touts four varieties of soups, including lobster bisque, chicken noodle, lentil and tomato bisque. As part of its national debut, SoupMan said it is working with Integrated Marketing Services, which will work as the company’s shopper marketing and retail promotions agency of record. The launch campaign — using in-store efforts, as well as traditional and digital media — will be designed to accelerate consumer trial and purchase of The Original SoupMan in new shelf-stable, eco-friendly cartons.
"We are delighted to be working with IN as we launch our distinctive brand in the soup aisle," SoupMan CEO Arnold Casale said. "We believe the unique relationship between IN and Advantage Sales and Marketing will deliver coordinated customer-centric solutions that will enable The Original SoupMan to have an enormous retail impact on the 2012 and 2013 soup marketing season."
The suggested retail price is $3.79 to $3.99 for a two-serving, 17.3-oz. eco-friendly carton.
Revlon announces actions to improve operating efficiency
NEW YORK — Revlon announced on Wednesday that to further improve operating efficiency, it is taking steps that will result in the elimination of 250 jobs.
The beauty brand is exiting its owned manufacturing facility in France and its leased manufacturing facility in Maryland, moving manufacturing from those facilities to other Revlon facilities and third parties; rightsizing its French and Italian organizations; and realigning its operations in Latin America, including consolidating Latin America and Canada into a single region. Certain of the actions are subject to consultations with employees, works councils or unions, and government authorities.
These moves will result in eliminating roughly 250 positions. Restructuring and related charges, which will be recognized in third quarter 2012, are expected to be approximately $25 million comprised of $19 million in employee-related costs and $6 million in other costs including asset write-offs. Of the total charge of $25 million, $23 million will be cash that will be paid out over the next 12 months. Annualized cost reductions are expected to be approximately $10 million, $9 million of which is expected to benefit 2013.
“Over the past three years we have successfully executed our strategy and are delivering on our strategic goal of profitably growing our business. These actions will enable us to continue to invest in the execution of our strategy while maintaining highly competitive margins,” Revlon president and CEO Alan Ennis said.