Marc Rey is stepping down as president and CEO of Shiseido Americas. Ron Gee, CFO of Shiseido Americas and global M&A leader, has been named Interim CEO. No further information has been provided by the company. Rey took the additional role of chief growth officer in January 2019.
In early August, Shiseido Company, Ltd. announced a 32.6% drop in sales during its second fiscal quarter year over year, with sales bottoming out globally in April-May, and a 26% decrease of sales the first half of the year from January to June, 30, 2020.
Net sales for the first half of fiscal 2020 totaled 417,812 million yen, a 26% year-over-year drop from 2019's 564,647 million yen. Q2 sales totaled 190.9 billion yen, a 34.4% year-over-year decline. The company is now projecting a full-year 16% year-over-year drop in sales, totaling 953.0 million yen.
