261 0 Kommentare OLAPLEX Announces CFO Transition

Company Reaffirms Q1 2024 Net Sales Guidance

SANTA BARBARA, Calif., April 04, 2024 (GLOBE NEWSWIRE) -- Olaplex Holdings, Inc. (NASDAQ: OLPX) (“OLAPLEX” or “the Company”) today announced that Eric Tiziani will step down as Chief Financial Officer to pursue another opportunity, effective May 3. The company has launched an external search for a new CFO in partnership with a leading executive search firm. While the search is underway, Paul Kosturos, a seasoned financial executive with over 30 years of experience, will join OLAPLEX and serve as Interim CFO following Mr. Tiziani’s departure. Mr. Tiziani will work closely with Mr. Kosturos in the weeks ahead to facilitate a smooth transition.

“On behalf of everyone at OLAPLEX, I want to thank Eric for his many contributions to the company,” said Amanda Baldwin, Chief Executive Officer of OLAPLEX. “His strong financial acumen and his collaborative leadership helped OLAPLEX navigate through key moments of transformation – including the Company’s initial public offering in 2021 – while achieving top-tier industry profitability. We wish Eric all the best.”

Ms. Baldwin continued, “We are fortunate to have Mr. Kosturos’ extensive experience in the retail and consumer industries while we search for a permanent successor. I look forward to working closely with Paul and our excellent team to continue executing a strategy that builds on our strong business model to return to consistent sales and profit growth.”

Mr. Tiziani said, “It has been a privilege to be part of OLAPLEX's journey and work alongside such talented individuals. OLAPLEX has an extraordinary foundation, and I am confident in Amanda’s leadership and the progress the business is making to realize its tremendous potential. I am excited to see its many future successes."

Mr. Kosturos is a Managing Director at Alvarez & Marsal, where he has specialized in interim CFO assignments since 2009, and has worked in a variety of industries, including retail, consumer goods, restaurants, manufacturing, software solutions and telecommunications.

In addition to announcing the CFO transition, the Company today reaffirmed its previously disclosed guidance for net sales for the first quarter of 2024 in the range of $92 million to $97 million, as provided in the Company’s press release issued on February 29, 2024.