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e.l.f. Cosmetics announced it has appointed consumer products veteran Tarang P. Amin as president, CEO and director. Amin replaces former CEO Joey Shamah, who will continue as a significant investor and director and will maintain an ongoing management role in the company. TPG Growth, the middle market and growth equity investment platform of TPG, announced on February 3, 2014 it had acquired a majority stake in e.l.f. Cosmetics.
Amin has more than 20 years of consumer products experience, as well as a demonstrated record of driving profitable growth at the companies he leads. Most recently he served as president, CEO and director of Schiff Nutrition, with leading brands Airborne, MegaRed, Digestive Advantage and Move Free. Under his leadership, Schiff’s enterprise value grew from $190 million to $1.5 billion over two years.
“Tarang has a proven record of growing consumer brands, and we believe he can leverage the strong foundation Joey and his team have built at e.l.f. and help expand the brand in new and exciting ways,” said John Bailey, principal at TPG Growth. “We are confident that Tarang can take a great company like e.l.f. and make it even stronger.”
“e.l.f. is a vibrant brand and a great opportunity exists for it to become a global powerhouse,” said Amin. “We will be working closely toward this goal with our partners at TPG Growth by bolstering the brand, leading innovation, expanding distribution, and improving operations. It’s an exciting time for me to join and lead the company.”
“We welcome Tarang to e.l.f., and believe his success at building major consumer brands will be quite valuable in the next stage of the company’s growth,” said Joey Shamah, co-founder and former CEO of e.l.f. Cosmetics. “With TPG Growth and Tarang behind e.l.f., we have added key resources to build-out our attractive niche in cosmetics and maximize the value of the brand.”
Previously, Amin was vice president, general manager of The Clorox Company’s $1.7 billion litter, food and charcoal strategic business units, taking Kingsford, Hidden Valley and Fresh Step to new records. He also served in senior management roles that helped to double the sales of the global Clorox franchise to $1.5 billion. Prior to Clorox, Amin held management positions at Procter & Gamble, where he helped grow Pantene’s sales from $50 million to $2 billion, as well as helped increase sales of Bounty by $300 million.
In addition to Amin, e.l.f. also announced other key additions to its management team effective immediately, including Richard F. Baruch Jr. as senior vice president and chief commercial officer; Erin Daley as senior vice president and chief marketing officer; Scott K. Milsten as senior vice president and general counsel; and Megan O’Connor as vice president of digital.
“We are fortunate to have this seasoned leadership team join us at e.l.f., each of whom I have worked with in the past and whose experience and commitment will be invaluable to our company,” said Amin. “Their consumer products expertise combined with the e.l.f. team’s outstanding performance in color cosmetics and beauty, will enhance our management capacity to pursue an aggressive growth agenda.”