The cosmetics and beauty giant has appointed its first female CEO in its 86-year history. Revlon’s first female CEO – Debra Perelman is the daughter of the company’s board chairman, Ronald Perelman.
Debra Perelman, the daughter of board chairman Ronald Perelman, will the company’s first female CEO and President. This promotion came just months after Perelman was appointed as the company’s Chief Operating Officer. The 44-year old exec has worked with Revlon for 20 years and has been serving in the company’s board since 2015. Prior to her appointment as COO, Perelman served as Executive Vice President for Revlon and MacAndrew & Forbes – the corporate management and acquisition firm headed by Ronald Perelman that manages a diverse portfolio of public and private companies.
As a board member and Executive VP, Perelman had overseen Revlon’s corporate strategy and led the company’s digital transformation, including forming a data and analytics group and establishing infrastructure and deploying necessary resources to create a cutting-edge e-commerce business.
Revlon’s first female CEO – Debra Perelman said in the company’s press release following her appointment – “Revlon has been a central part of my personal and professional life for more than 20 years. I love Revlon not only as a company but as a culture of employees and executives who are committed to delivering women and men the best products in our industry. Beauty has emerged as one of today’s most dynamic and fastest-growing industries and I look forward to working with Revlon’s world-class team to amplify our strategy and accelerate growth.”
Revlon has been going through some bumpy strides recently. The company reported a $61.7 million operating loss in May, compared with a $43.1 million loss for the previous year first quarter. As CEO and President, Perelman will be focused on enhancing Revlon’s consumer and customer focused approach. She will be responsible for enhancing the company’s brand portfolio and investing in e-commerce as a growth-driver.
Only 5 percent of CEO positions are held by women in the S&P 500 companies. Even in the Fortune 500 companies, only 24 women hold CEO ranks. Beauty and Cosmetics giants like Estee Lauder and L’Oréal are also led by men.
Following his daughter appointment as Revlon’s first female CEO, Ronald Perelman said, “Revlon is a brand of firsts – the first to match lips and finger tips, the first to be inclusive, the first to develop color stay technology and the first brand to embody women empowerment in the beauty industry. Debbie’s global perspective, financial acumen and holistic approach to brands, consumers and technology will help Revlon reclaim its leadership position. I have always trusted Debbie to bring fresh vision, innovation and success to companies, and I have no doubt she will do the same for Revlon.”
Too bad as soon as they leave the store, customers will have to face reality that att is an also ran company with subpar network.