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Revlon CEO Garcia Resigns Amid Continued Turnaround Challenges

 
• By Ryan Nelson

The former Colgate-Palmolive exec served less than two years as CEO of Revlon, which continues to be plagued by declining sales and widening losses despite brand revival efforts and investments in e-commerce. There were bright spots in the fourth quarter, including renewed growth in the firm's US color cosmetics business.

Close-up Of A Businessperson Carrying Cardboard Box During Office Meeting

Revlon, Inc.'s color cosmetics business returned to growth in North America in the fiscal 2017 fourth quarter, and its net sales for the period reportedly beat analyst predictions, but it seems that turnaround progress is not happening quickly enough for the company's board of directors.

The firm announced Jan. 29 that President and Chief Executive Officer Fabian Garcia has stepped down "to pursue other opportunities."...

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