Revlon Group has appointed Michelle Peluso to the role of chief executive officer at the U.S. beauty company, effective November 4.
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She will also be joining the the New York-based company’s board of directors.
Peluso succeeds Elizabeth Smith, who has been serving as interim CEO and executive chair of the board since August 2023, following the shock departure of former CEO, Debra Perelman. Smith will continue in her role as executive chair at Revlon.
With global strategic and operational experience, Peluso comes to Revlo from CVS Health, where she served as chief customer and experience officer, overseeing the firm’s end-to-end consumer experience across all channels. She has previously held global chief marketing officer roles at IBM and Citi, and CEO roles at digital commerce firms Travelocity and Gilt. Peluso is currently a member of the board of directors of Nike.
“I am thrilled to be bringing Michelle on to lead Revlon’s next phase of growth. It has been a privilege to undertake this transformation journey over the past year,” said Smith.
“With a clear strategic direction set for the company, strong progress on our transformation, a deeply talented leadership team in place and exciting opportunities in front of us, now is the right time for this transition. Michelle is a terrific leader and brings significant retail and digital experience to Revlon that will be critical to our future growth and success. Along with the rest of the board, I look forward to supporting Michelle as she takes on this role.”
It’s been a tumultuous few years for the cosmetics giant, which has faced financial headwinds since 2020, forcing it to file for Chapter 11 bankruptcy in 2022.
In May of this year, Revlon emerged from a financial restructuring with approximately USD 236 million of liquidity, funded through an equity rights offering, a new money senior secured credit facility, and new asset-based loans.
At the time, Revlon also formed a new board comprised of senior executives with consumer, retail, and beauty sector experience and operational expertise.