Physicians Formula terminates stock repurchase instruction
AZUSA, Calif. Beauty company Physicians Formula announced on Friday that in light of the unanticipated change in the volume limitation under Rule 10b-18 of the Securities Exchange Act of 1934, it has terminated its Rule 10b5-1 trading plan dated Sept. 12, 2008.
Physicians Formula gave notice of the termination to the broker on Thursday. The notice takes effect Friday.
As of the close of trading on Thursday, approximately $6.5 million remained authorized for repurchases under the company’s previously announced stock repurchase program for up to $10 million of the its common stock.
Under the repurchase program, the company may continue to repurchase shares of its common stock in the open market or in privately negotiated transactions, in compliance with the safe harbor provisions of Rule 10b-18 under the Exchange Act. The window for such discretionary repurchases is currently closed and will reopen two full trading days after Physicians Formula announces its third fiscal quarter results.
The repurchase program does not obligate the company to repurchase any dollar amount or number of shares of its common stock, and the program may be extended, modified, suspended or discontinued at any time.
Drom adds perfume pro Hogan to its group of personal care gurus
MUNICH, Germany Drom fragrances has hired perfumer Thomas Hogan Jr. to strengthen its personal care and home fragrance team.
Hogan has more than 30 years of experience as a perfumer at companies such as Flavor and Fragrance Specialties, Robertet, Ungerer and Givaudan. He will be located in drom’s New Jersey creative center.
Munich-based drom has spread over the four major regions: Europe, Asia Pacific, The Middle East and the Americas. Drom is managed by the third generation of family members: Ferdinand Storp and Andreas Storp.
Head & Shoulders’ new cosmetic dermatologist urges shoppers to respect their scalps
BOCA RATON, Fla. Head & Shoulders, a P&G Beauty brand, has selected cosmetic dermatologist Dr. Marta Rendon to be its global celebrity dermatologist for its U.S. and European marketing campaigns.
The campaigns, launched this summer in Europe and this month in the United States, were designed to educate consumers on the importance of scalp care.
“A healthy scalp is the foundation for healthy, beautiful hair, but most people do not realize that scalp issues are about as common as other skin issues,” stated Head & Shoulders North American marketing director Julie Marchant-Houle. “Head & Shoulders is launching a new campaign called ‘Respect the Scalp, Love the Hair’ this month that is designed to highlight the importance of the scalp and bring it to the forefront of consumers’ minds.”
Rendon was selected, according to the company, for her expertise as a dermatologist, related teaching tenure and active faculty credentials. She was also selected for her international physician training experience and the clinical trial research she directs at her practice, which tests the latest skin care technologies, treatments and products prior to marketplace distribution.