Elizabeth Arden, Inc. Appointments New Chief Financial Officer
Elizabeth Arden, Inc., a global prestige beauty products company, announced the appointment of Rod R. Little as Executive Vice President and Chief Financial Officer effective April 1, 2014.
Mr. Little joins Elizabeth Arden, Inc. from Procter & Gamble where, since 2009, he has served as Chief Financial Officer for P&G's Global Salon Professional division, a $2 billion global business, and led a 200 person finance organization in over 20 countries. He was also a member of P&G's Global Beauty Leadership Council. Prior to that, Mr. Little was the finance leader for P&G's North America Salon Professional division. He joined P&G in 1997, after serving in the U.S. Air Force for five years, and steadily progressed at P&G through numerous corporate finance and divisional finance leadership roles of increasing responsibility.
Along with significant global beauty experience, Mr. Little brings recent international experience having lived and worked outside of the U.S. for the past five years, managing specific divisional growth initiatives in Europe and Asia. As the finance leader for Wella after its acquisition by P&G, Mr. Little was responsible for the integration of that division, gaining valuable experience working to restructure their business while helping to drive consistent sales growth and gross margin expansion.
E. Scott Beattie, Chairman, President and Chief Executive Officer commented, "Rod is a seasoned financial executive with a strong background in the beauty market and significant international experience. We believe that he is particularly well-equipped to work with our senior executive team to help us return to systematic sales growth and gross margin improvement. Having led a large global finance organization within P&G, Rod earned a reputation as a strong, 'hands on' organizational leader and an excellent collaborator with commercial teams."
Mr. Little commented, "I am very excited to join the Elizabeth Arden team. I believe the potential for growth and value creation is tremendous, given the smart and passionate people that I have already met in the Company, a strong brand portfolio, and an attractive international footprint. Having played a leadership role in similar business situations and industries, I am confident that we can develop and execute plans to drive consistent sales and margin growth. I look forward to becoming part of the Elizabeth Arden family and partnering with the team to build the business."
Elizabeth Arden is a global prestige beauty products company with an extensive portfolio of prestige beauty brands sold in over 100 countries. The Company's brand portfolio includes Elizabeth Arden skincare, color and fragrance products, the celebrity fragrance brands of Britney Spears, Elizabeth Taylor, Justin Bieber, Mariah Carey, Nicki Minaj, Taylor Swift, Usher and Jennifer Aniston; the designer fragrance brands of Juicy Couture, Alfred Sung, BCBGMAXAZRIA, Geoffrey Beene, Halston, Bob Mackie, Ed Hardy, John Varvatos, Lucky Brand, True Religion and Rocawear; and the lifestyle fragrance brands Curve, Giorgio Beverly Hills, and PS Fine Cologne.
In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Elizabeth Arden, Inc. is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as "will likely result," "are expected to," "will continue," "is anticipated," "should," "estimated," "intends," "plans," "believes" and "projects") may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. These statements include, but are not limited to, our guidance and expectations regarding net sales, earnings, gross margins, operating cash flow and returns on invested capital. In addition, any such statements are qualified in their entirety by reference to, and are accompanied by, the following key factors that have a direct bearing on our results of operations:
* factors affecting our relationships with our customers or our customers' businesses, including the absence of contracts with customers, our customers' financial condition, and changes in the retail, fragrance and cosmetic industries, such as the consolidation of retailers and the associated closing of retail doors as well as retailer inventory control practices, including, but not limited to, levels of inventory carried at point of sale and practices used to control inventory shrinkage;