Revlon CEO Lorenzo Delpani to step down next week

Revlon says CEO Lorenzo Delpani is stepping down from the job next week for personal reasons.

The announcement comes several weeks after the makeup company’s biggest shareholder said it wanted to seek “strategic alternatives” for the company.

WATCH: Beauty Blogger offers tips on how to extend the use of your products

Revlon says Delpani will remain on the board and will also be a paid adviser. The company did not name a replacement.

Get weekly money news

Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday.

Sign up for weekly money newsletter Sign Up

By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy.

A representative for New York-based Revlon Inc. did not immediately respond to a request for comment.

In January, businessman and Revlon Chairman Ronald Perelman said he wanted to explore “strategic alternatives” for the company but said he doesn’t have a plan yet.

Perelman’s investment firm, MacAndrews & Forbes, has a nearly 78 per cent stake in Revlon, according to FactSet.