Counter Brands, parent company of Beautycounter, has announced that founder Gregg Renfrew is returning as CEO, effective February 1, 2024. She has always remained on the board.
The executive founded the brand in 2013; Carlyle acquired the brand in 2021, with Renfrew staying on as CEO.
Renfrew's decision to sell Beautycounter to Carlyle back in 2021 at a valuation of $1 billion, was reportedly because she believed the private equity firm would scale Beautycounter while staying true to its mission, Fast Company reports.
However, Fast Company notes that "as Carlyle restructured the company, Renfrew was asked to leave her position as CEO to make room for new leadership."
Of her return, Renfrew commented, "Without question, Beautycounter's greatest opportunities are ahead of us. Consumers are demanding, now more than ever, the things that we have brought to the industry from the very beginning: transparency, health & safety for people and the environment, innovative products, an engaged community and a business that is much more than its bottom line. Who we are, and the work we do, truly matters to so many people. I'm energized to build on our history of disrupting to create a movement for change and a higher industry standard."
"We are thrilled to welcome back Gregg to lead Beautycounter in this important next phase of growth," said Roberto Marques, board chair. "Gregg, as the founder and inspiration of Beautycounter's mission, also has a proven track record at the company for driving results and engaging both advocates and associates who work alongside her to make meaningful change. On behalf of the board, I want to thank Mindy Mackenzie for her service, stepping in as interim CEO and making meaningful contributions that will no doubt poise Beautycounter for its continued success."
Renfrew added, "I am looking forward to getting back to working with the team (including some familiar faces joining me again). It's not going to just be business as usual, and I'm looking forward to raising the bar even higher for our company and the industry at large."