Following Revlon CEO Lorenzo Delpani’s resignation in February due to personal reasons, the beauty brand is thrilled to announce Fabian Garcia is taking on the role of CEO and president, effective April 15.
Garcia is more than equipped for the role, having worked at Colgate for the past 13 years - most recently as chief operating officer of global innovation and growth. Responsible for leading the company’s businesses in the Asia-Pacific, Eurasia, Latin America and Europe, Garcia was also in charge of the Hill’s Pet Nutrition operation.
Before working at Colgate, Garcia also came with an impressive resumé - he was the manager of international operations at Timberland Co, president of Chanel in the Asia-Pacific region, and president of Max Factor in Japan and the Asia-Pacific.
On the new role, Garcia says: “I am honoured to join Revlon during such an exciting period of renewed growth and innovation. Revlon is a true global market leader setting the highest standard for beauty and quality. I look forward to joining this extraordinary team to help continue to drive growth and innovation and to continue to deliver strong results for our customers around the world.”
Revlon chairman Ronald O. Perelman adds: "I want to welcome Fabian as Revlon’s president and CEO. Fabian has demonstrated a long track-record of success at Colgate in terms of driving growth and profitability, and in successfully leading and expanding global organisations. He has the global strategic, marketing, sales, financial and operational leadership experience to successfully lead Revlon into the future.”
The appointment comes on the back of industry rumours of a potential sale of Revlon, however, beauty industry players believe this latest move will see the sale put on the back-burner for now.
“Traditionally, the hiring of a new, permanent CEO would signal the end of a strategic review or sale process. I would suspect Revlon continues to want to drive shareholder value, but that can be achieved by selling the company for a premium or having a strong CEO drive growth and margin. As the chief operating officer of Colgate, one of the strongest personal-care companies in the world, Fabian Garcia should be a positive to drive significant share price appreciation,” boutique advisory firm Threadstone Partners managing director William Susman tells WWD.
Image: Instagram.com/Revlon
