Revlon, Inc. (NYSE:REV) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Revlon, Inc. (NYSE:REV) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Mr. Paul Savas resigned as a director of Revlon, Inc. (the “Company”) effective on June 23, 2020. He did so after MacAndrews & Forbes learned about and notified the Company that in May 2020, Mr. Savas had failed to comply with the Company’s processes and procedures with respect to a related party transaction. The transaction in question involved a requested accelerated payment by the Company to MacAndrews & Forbes in the amount of $5,142,128 relating to insurance services. As previously disclosed by the Company, MacAndrews & Forbes purchases services, such as insurance, from third party providers on behalf of the Company. The payment has been returned to the Company and will instead be paid by the Company in installments under the existing arrangements with MacAndrews & Forbes. The Company is performing a review of existing policies surrounding related party transactions and will make enhancements as appropriate. Mr. Savas has also resigned from all of his MacAndrews & Forbes-related positions.
About Revlon, Inc. (NYSE:REV)

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Revlon, Inc. manufactures, markets and sells around the world a range of beauty and personal care products, including color cosmetics, hair color, hair care and hair treatments, as well as beauty tools, men’s grooming products, anti-perspirant deodorants, fragrances, skincare and other beauty care products. The Company operates through three segments: Consumer, which includes cosmetics, hair color and hair care, beauty tools, anti-perspirant deodorants, fragrances and skincare products; Professional, which includes a line of products sold to hair and nail salons, and professional salon distributors, including hair color, shampoos, conditioners, styling products, nail polishes and nail enhancements, and Other, which includes the distribution of prestige, designer and celebrity fragrances, cosmetics and skincare products, such as Burberry and Rihanna branded products. The Company also offers Elizabeth Arden portfolio of brands, including its designer, heritage and celebrity fragrances.

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