NEW YORK (AP) — Revlon has tapped a former Colgate-Palmolive executive to serve as its next CEO, about a month after announcing that Lorenzo Delpani would be stepping down from the role for personal reasons.
The beauty products company announced Monday that Fabian Garcia will take the top post on April 15. He'll also become a Revlon Inc. board member.
Garcia spent 13 years at Colgate-Palmolive Co., serving in positions such as chief operating officer of global innovation and growth. Before working at Colgate-Palmolive, Garcia was at Timberland Co., managing its international operations. The 56-year-old has also worked at Chanel and Procter & Gamble Co.
Revlon said in February that Delpani would remain on its board and also be a paid adviser. A month earlier, Revlon Chairman Ronald Perelman said that he wanted to explore "strategic alternatives" for the New York-based company but that he did not yet have a plan.
Besides its namesake products, Revlon's other brands include Almay makeup and Mitchum deodorant.
Revlon's Class A stock dropped $3.39, or 9.4 percent, to $32.60 in morning trading Monday. Its shares are down almost 18 percent over the past year.
