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 OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Election of Debra G. Perelman as President and Chief Executive Officer.On May 22, 2018, the Board of Directors of Revlon, Inc. (“Revlon” and together with its subsidiaries, including, without limitation, Revlon Consumer Products Corporation (“RCPC”), the “Company”), elected Debra G. Perelman as the Company’s President and Chief Executive Officer, effective immediately. In this new position, Ms. Perelman will assume from Paul M. Meister, the Company’s Executive Vice Chairman, the role as the Company’s principal executive officer, which role Mr. Meister was performing on an interim basis until the appointment of the Company’s new CEO.RCPC’s Board of Directors also elected Ms. Perelman to serve as a member of RCPC’s Board, effective immediately.
As previously disclosed on a Current Report on Form 8-K that each of Revlon and RCPC filed with the SEC on January 30, 2018, Mr. Meister will continue to serve as the Company’s Executive Vice Chairman and will assist the Company in transitioning the CEO roles and duties to Ms. Perelman.
Ms. Perelman, age 44, has served as the Company’s Chief Operating Officer since January 2018 and has been a Director of Revlon since June 2015. Ms. Perelman served as a member of Revlon’s Compensation Committee until January 2018. Ms. Perelman served as the Company’s EVP Strategy, Digital Content and New Business Development from December 2017 until January 2018 under a secondment arrangement with MacAndrews & Forbes. From 2014 until her appointment as the Company’s COO, Ms. Perelman also served as Executive Vice President, Strategy and New Business Development of MacAndrews & Forbes, a diversified holding company. Ms. Perelman joined MacAndrews & Forbes in 2004 as Vice President. Prior to joining MacAndrews & Forbes, Ms. Perelman held various positions at the Company in corporate finance and brand marketing. Ms. Perelman also serves as a founding member and Vice Chairman of the Child Mind Institute, as an Advisory Board member for the Social Enterprise Program at Columbia Business School, as a member of the Board of the Children’s Hospital of Philadelphia and as a member of the President’s Advisory Council at Princeton University. From 2014 until 2015, Ms. Perelman served as a member of the Board of Directors of Scientific Games.
As disclosed in Revlon’s Annual Report on Form 10-K for the fiscal year ended December 31, 2017, filed with the SEC on March 15, 2018, the Company and Ms. Perelman are party to an Employment Agreement, dated March 14, 2018 (the “Employment Agreement”), setting forth the terms and conditions of her employment and compensation. Such description is qualified by reference to the full text of the Employment Agreement filed as Exhibit 10.1 attached to Revlon’s Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2018, filed with the SEC on May 10, 2018. While at this time the Company and Ms. Perelman have not entered into any amendments to the Employment Agreement (written or unwritten) in connection with her new role, the Company expects that they will do so shortly.
Ms. Perelman is the daughter of Ronald O. Perelman, the Chairman of the Company's Board of Directors.Ms. Perelman is not a party to any transactions listed in Item 404(a) of Regulation S-K.
About Revlon, Inc. (NYSE:REV)
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.