Revlon Names President and CEO

Revlon, Inc. announced that its board has elected Alan T. Ennis as president and CEO. Ennis will succeed David Kennedy, who will become Revlon’s vice chairman. Kennedy will also serve as a senior executive vice president at MacAndrews & Forbes Holdings Inc., Revlon’s largest shareholder. Ennis was previously Revlon’s executive vice president, CFO and president, Revlon International. Ennis and Kennedy will both remain on the company’s board.

Chris Elshaw, who has served as executive vice president and general manager of the United States region, has been elected executive vice president and COO. Steven Berns has been elected executive vice president, CFO and treasurer. The appointments of Ennis, Kennedy and Elshaw are effective May 1, 2009; Berns will join the company later in May.

The company has formed an office of the vice chairman that will include Kennedy, Ennis and Elshaw, the office will oversee the company’s strategic development.

"This planned leadership transition ensures that we have highly capable executives to continue to lead our business," said Kennedy. "I am most confident that Alan is best positioned to lead the company, as he has strong leadership capability, strategic ability and financial acumen. In addition, Chris and Steven are well-equipped to assume their respective roles. Alan and Chris, along with the other senior management team that make up the operating committee, will provide the company with outstanding leadership.”

"I want to thank David for his valuable leadership over the past three years, welcome David to his new role as vice chairman and welcome Alan to his new role as CEO," said Ronald O. Perelman, chairman, Revlon. "Alan has proven to be a highly valued member of Revlon’s senior management team, and will provide the company with outstanding leadership as we move forward.”

Ennis,39, was elected president, Revlon International and as a director of the company in March 2009. He has also served as the company’s executive vice president and CFO; before that, he served as senior vice president, corporate controller and chief accounting officer. Ennis joined Revlon in March 2005 as senior vice president, internal audit. Prior to joining Revlon, he held several senior financial positions with Ingersoll-Rand Company.

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