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
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.
- WestJet passengers can change or cancel flights ahead of looming strike
- Downtown Edmonton retailers dig in amid rash of restaurant closures: ‘Not going anywhere’
- Edmonton city council faces urgent call to address downtown business closures
- Alberta distillery welcomes easing of interprovincial liquor trade barriers
Comments
Want to discuss? Please read our Commenting Policy first.