MAV Beauty Brands Inc. has announced Tim Bunch has been appointed as president and CEO, as part of a new streamlined organizational reporting structure, according to an article on Yahoo Finance. MAV Beauty founder Marc Anthony Venere will continue to serve as a director.
“[Venere] is an amazing entrepreneur and for 25 years, has led the growth of this business from one salon to the leading independent hair care company it is today,” Chris Elshaw , chair of board of directors, said. “Since becoming a public company, we have strengthened our leadership team with key appointments of seasoned executives and, following the recent acquisition of The Mane Choice, we streamlined our organizational reporting structure to best support our brand portfolio and gain efficiencies. While [Venere] will no longer have day-to-day management responsibilities, he is committed to supporting the executive team under [Bunch’s] leadership.”
“I am deeply committed to the company's long-term success, including by maintaining a significant equity interest,” Venere said. “I believe the company's fundamentals and brands are strong, and the MAV management team can drive results that reflect the business' full potential.”
“Since joining MAV Beauty Brands in 2017, [Bunch] has played a key role in the organization and most recently took on an expanded role as president,” Elshaw added. “The board would like to thank [Venere] for his invaluable contributions and congratulate [Bunch] on his appointment as chief executive officer.”
