Beauty Industry

Revlon to cut 250 jobs, discontinue new Vital Radiance line

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By: Jamie Matusow

Editor-in-Chief

Cosmetics company Revlon Inc. said it would discontinue the disappointing Vital Radiance line, launched in January, and cut about 250 jobs as part of a massive consolidation that comes just a week after it named a new chief executive officer. The company, controlled by financier Ronald Perelman, said it would eliminate certain senior executive positions and consolidate various facilities. Among the plans, New York-based Revlon expects to cut its U.S. work force by about 250 positions, or about 8 percent. The cuts should lead to about $29 million in charges and annual savings of about $34 million. Revlon said the roles of executive vice president and chief marketing officer, held by Stephanie Klein Peponis, and executive vice president and chief creative officer, held by Rochelle Udell, would be eliminated. Brand marketing leaders will now report directly to President and CEO David Kennedy, who took on his posts on September 18. Revlon also eliminated the role of executive vice president and president of international, which was held by Tom McGuire. That is the role that Kennedy held until he became chief financial officer in March. On September 18, Revlon promoted Kennedy to president and CEO, succeeding Jack Stahl, who left amid pressure on the company. Stahl’s departure came on the heels of the disappointing launch of Vital Radiance, a cosmetics line for mature women. The line was expected to be a key part of Revlon’s turnaround strategy, but it fell well short of expectations.

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