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