Revlon, Inc. has named David Kennedy as president and CEO, effective immediately. He replaces Jack Stahl, who is leaving to pursue other interests, but has agreed to stay on for a 30-day transition period.
The cosmetics giant is suffering under a multiyear slump in sales and profits.
Kennedy, 59, is currently Revlon’s executive VP-CFO and treasurer. He has also been named as a director of the board. He joined Revlon in 2002 as executive VP and president of Revlon International. Earlier this year he had been appointed CFO of Revlon, Inc.
Stahl, 53, joined Revlon as CEO in 2002. In 1998, shares were trading at their highest level over the last decade, $56.38, before falling to an all time low of 76 cents in July. Both Stahl and Kennedy had previously worked for Coca-Cola. Stahl was Revlon’s third CEO in six years.
Revlon’s stable of products includes Revlon, Almay, Vital Radiance, Ultima, Charlie, Flex and Mitchum.
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