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Perelman Tag

3 Aug

Debra Perelman Out as CEO of Revlon – WWD

by Beautifaire101
Beauty, Featured
The Perelmans’ control over beauty company Revlon Group is not any more. Not long after her father Ronald Perelman was pushed out, Debra Perelman is stepping down from her role as president and chief executive officer and as a member of the board. She's going to function an adviser to the corporate, whose brands include namesake Revlon, Elizabeth Arden and Almay, for a transitional period. Elizabeth A. Smith has been appointed interim CEO. Smith was brought in as executive chair of the Revlon board of directors in May and continued in that role because it emerged from Chapter 11 bankruptcy. Perelman said: “It has been an honor to guide the talented and dedicated Revlon team over the past five years, and I'm grateful...
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20 Dec

Revlon Bankruptcy Proposal Would Remove Ron Perelman as Owner

by Beautifaire101
Beauty, Featured
Revlon, the troubled 90-year-old Recent York-based beauty company that owns the namesake Revlon, Elizabeth Arden and Almay brands, looks to be near reaching a deal that may see creditors take over the cosmetics company that Ron Perelman has helmed for many years. In line with legal filings, Revlon has entered right into a Chapter 11 restructuring support agreement with two creditor groups that may involve ownership stakes being handed to secured lenders, while existing shareholders, including Perelman, who controlled around 85 percent of the corporate as of earlier this yr, can be left with nothing. The 2 creditor groups are the Consenting BrandCo Lenders, which incorporates Ares Management and Oak Hill Advisors, and the Official Committee of Unsecured Creditors, appointed within...
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