Revlon chief resigns

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Revlon president and ceo Jeffrey Nugent has resigned. Nugent said he had accomplished the strategic goals set for him two years ago when he joined the company, and said he will be seeking new business opportunities.

Chairman of the company Ronald Perelman said he expects to name a replacement for Nugent shortly. He concluded: "All of us here at Revlon want to express our gratitude to Jeff. He came to Revlon and was given the very important and difficult challenge of lowering costs overall and improving operational efficiency across the enterprise. Through diligence, creativity and hard work, he has accomplished those goals and successfully prepared the way for the company to begin a new phase of growth. Jeff led Revlon through this transition period with determination and enthusiasm for the promise of our powerful brands. We wish him the very best in his pursuit of new challenges and fresh opportunities."