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The
news comes about a month after Revlon's controlling shareholder
and Chairman Ron Perelman said he would seek strategic
alternatives for the company.
The company, known for its Revlon and StreetWear brand cosmetics
and Charlie perfumes, has reported a sales decline in three of
the past four quarters as consumers increasingly prefer more
exclusive brands.
Revlon is also facing intense competition from bigger companies
such as Estee Lauder Cos Inc <EL.N> and L'Oreal SA <OREP.PA>,
whose deep pockets allow them to spend heavily on research and
marketing new brands.
Revlon said on Friday that Delpani would step down as CEO on
March 1, but remain on the company's board. He will also serve
as an adviser.
The company appointed Executive Vice President Gianni
Pieraccioni its new chief operating officer.
Revlon sales rose 4.2 percent to $521.9 million in the fourth
quarter ended Dec. 31, helped by demand for its Revlon and
SinfulColors cosmetics in the United States.
Revlon shares closed at $31.17 on Thursday on the New York Stock
Exchange.
Up to Thursday's close, the stock had risen nearly 24 percent
since Jan. 14, a trading day before Perelman said he would seek
strategic alternatives for the company.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by
Savio D'Souza and Kirti Pandey)
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