Debra G. Perelman, who served as Revlon’s CEO and President for five years and worked at the company for over two decades, has resigned from her positions and board membership. Elizabeth (Liz) A. Smith has been appointed as the interim CEO with immediate effect.

Debra G. Perelman has served in Revlon’s CEO role since 2018 and is the daughter of MacAndrews & Forbes Chairman and CEO Ron Perelman. Before acting as CEO, Perelman was Revlon’s chief operating officer.

Elizabeth Smith has served as executive chair of Revlon’s board of directors since May 2023 and will continue in that role. Smith previously served as the CEO of Bloomin’ Brands, chair of the Federal Reserve Bank of Atlanta and president of Avon Products, Inc.

“With a successful financial restructuring behind us, I believe now is the right time to pass the torch,” Debra Perelman said in a statement. “Revlon’s simplified capital structure and significantly reduced debt have positioned the company for long-term growth.”

Elizabeth A Smith said, “This is an exciting time for Revlon, which is well positioned for its next phase of growth with a simplified capital structure and the support of new owners. I am energized by the engagement of our new board, which is committed to the execution of the company’s business transformation. Along with the leadership team, I look forward to building an organization-wide culture of innovation and excellence, and to working with our retailer, supplier and distribution partners to reignite the momentum in our iconic brands.”

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