Beauty Industry

Parlux Names New CEO, CFO

Parlux Fragrances Names Neil J. Katz CEO and Chairman of the Board, Promotes Raymond Balsys to Chief Financial Officer

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By: Jamie Matusow

Editor-in-Chief

Perfume and beauty products maker Parlux Fragrances Inc. named Neil J. Katz as chief executive officer. Katz, 62, who has worked as divisional presidents at Liz Claiborne and Revlon, was also named chairman of the company’s board of directors. He had served as interim CEO for three months prior to Monday’s announcement. Parlux also promoted Raymond Balsys to the role of chief financial officer, replacing Frank A. Buttacavoli, who will remain chief operating officer. Balsys rejoined the company in July 2006 as vice president of finance. From 1994 to 1997, he served as vice president, comptroller. The company said the separation of the COO and CFO roles will allow Buttacavoli to work closely with CEO Neil J. Katz on overall planning, management, and signing new fragrance licenses.

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