Revlon appoints Sergio Pedreiro as new COO
As it continues to explore sale possibilities, New York-based cosmetics company Revlon, Inc. announced on Monday that it has named Coty alum Sergio Pedreiro as its new chief operating officer, effective immediately.
In his new position, Pedreiro will play an important role in the restructuring and transformation of Revlon’s operations. He will be tasked with improving the company’s efficiency and supporting it in its efforts to achieve further growth.
The executive will join Revlon officially on January 8, 2020, and will report to the company’s president and CEO, Debra Perelman.
Pedreiro comes to Revlon from Estre Ambiental, a Brazilian waste management company where he has served as CEO since 2015.
Prior to this, he was chief financial officer at Coty Inc. from 2009 to 2014. During this time, he implemented a significant restructuring plan, reorganized a number of divisions, established new teams and strengthened the company’s governance, while also accelerating the transformation of its business.
His efforts led to Coty, which he left with a stronger capital structure, achieving higher margins and improved cash flow.
The executive, who holds an MBA from Stanford University, also previously worked as CFO at cargo railroad company America Latina Logistica and as investment officer at São Paulo, Brazil-based GP Investimentos.
“Sergio brings to Revlon a wealth of operational and restructuring expertise, as well as decades of experience from leading international organizations across a diverse array of industries,” commented Perelman in a release.
“As we enter 2020, which will be a year of continuing significant transformation and change for Revlon, Sergio will be an important addition to Revlon’s team and I am confident that he will use his talents to help us execute and achieve our strategic goals,” she added.
Revlon, which owns the Revlon, Elizabeth Arden, Almay and Sinful Colors brands, among others, first hired Goldman Sachs to help it explore strategic alternatives, including the possibility of a sale of all or part of its business, in the summer of 2019.
Since then, this process has reportedly moved to focus on the sale of Revlon’s smaller “portfolio brands.”
In the third quarter ended September 30, 2019, Revlon reported a net loss of $44.7 million on revenues of $596.8 million.
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