The BeautyHealth Company Announces a Leadership Shakeup

On Monday, the corporate, greatest identified for its Hydrafacial model, introduced that president and chief government Andrew Stanleick might be leaving the enterprise and relinquishing his seat on the corporate’s board, efficient Nov. 19. Marla Beck, present BeautyHealth director and Bluemercury founder, will function interim CEO whereas the corporate begins a seek for a brand new successor.

The information comes on the heels of the corporate reporting its third-quarter earnings on Nov. 13, the place it introduced a ten % progress in gross sales and a internet lack of $73.8 million within the interval ending Sept. 30. The corporate attributed the loss to its points with its Syndeo machine. Like fellow publicly listed mono-brand firms, comparable to Olaplex, which unable to offset losses with different manufacturers or divisions, The BeautyHealth Firm has seen its inventory value tumble. Over the course of 24 months, its inventory has fallen 86.2 %.

Stanleick joined BeautyHealth in January 2022 having beforehand served as government vice chairman, Americas at Coty Inc and world chief government of Coty’s three way partnership with Kylie Cosmetics.

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Olaplex’s Sales Continue to Plunge

The corporate’s specialty retail channel was hit the toughest, reporting an almost 42 % drop in gross sales in comparison with the identical interval final yr. Olaplex is bought in numerous specialty doorways together with Sephora.