Dan Sullivan
appointed Chief Operating Officer; Francesca Weissman promoted to Chief Financial
Officer
Company streamlines International markets;
increases focus on commercial innovation and operational
execution
SHELTON,
Conn., Aug. 6, 2024 /PRNewswire/ -- Edgewell
Personal Care Company (NYSE: EPC) ("Edgewell" or the "Company"),
today announced key changes to its executive leadership team,
including the appointments of a Chief Operating Officer (COO) and a
new Chief Financial Officer (CFO), in conjunction with a simplified
and streamlined organizational structure that will better position
the Company for continued long-term, sustainable growth.
"As the results we reported this morning illustrate, our
strategy is working. We delivered modestly positive topline organic
growth and another quarter of healthy year-over-year gross margin
accretion. As a result, we have increased our Adjusted EBITDA and
Adjusted EPS outlook for fiscal 2024. With these strategic changes,
Edgewell is well-positioned to further capitalize on the growth
opportunities we see in the markets we serve," said Rod Little, President and Chief Executive
Officer of Edgewell Personal Care. "I'm confident that the changes
we are making to our leadership team and operating structure will
help bolster our global business, strengthen our consumer-centric
innovation platform and accelerate our efforts to continue to drive
meaningful gross margin accretion, all in support of our
overarching goal of delivering consistent and sustainable top- and
bottom-line growth."
COO Appointment and CFO Promotion
Dan Sullivan, currently CFO and
President of Europe and
Latin America, has been appointed
to the position of COO, effective immediately. This appointment
will streamline and strengthen the Company's leadership structure,
narrow spans of control, enhance the speed of decision-making and
improve enterprise execution against critical business priorities
to maximize performance. Sullivan will continue to serve as CFO
until December 1, 2024.
In his role as COO, Sullivan will be responsible for continuing
to drive and grow the Company's International markets under a newly
consolidated International business. Additionally, while continuing
to have purview over Finance, IT, Strategy, M&A and Business
Development, he will now also oversee Global Operations, Supply
Chain and Corporate Sustainability.
Sullivan joined Edgewell in 2019 and has more than three decades
of experience in corporate finance, strategy and operations. Prior
to Edgewell, Sullivan successfully led financial and operational
functions across various global retail and CPG organizations.
Francesca Weissman, currently
Senior Vice President of Finance and Business Strategy, will assume
the role of CFO effective December 1,
2024. Weissman will report to Sullivan and continue to lead
all aspects of corporate FP&A and commercial and operational
finance. Her additional responsibilities as CFO will include
oversight of Controllership and Accounting, Investor Relations,
Internal Audit, Tax, and Treasury. She will work closely with
Sullivan in the months leading up to her officially taking the role
to ensure a smooth and seamless transition.
Weissman joined Edgewell in 2019 and has over 25 years of broad
finance experience across all aspects of finance, M&A and
corporate strategy. Prior to Edgewell, she held senior leadership
roles of increasing scope and responsibility across various
industries with global, publicly held organizations.
"I have seen Dan's dedication to the business firsthand and
recognize his successful scaling of growth in Europe and Latin
America over the past two years while enhancing our
organization's focus on execution and performance. I look forward
to his continued focus on our gross margin accretion priorities and
driving company-wide organic and inorganic growth as we execute our
strategic initiatives," said Little. "I am also proud to promote a
key member of the Finance organization, Francesca Weissman, to CFO. She has been an
integral part of our team and I am confident that she will make a
positive impact as she takes on new leadership
responsibilities."
Organizational Changes
In addition to strengthening its executive leadership team,
Edgewell is also streamlining its International markets – to
simplify its operating structure, allow for greater focus on
commercial innovation and operational execution and better position
the Company for sustainable top- and bottom-line growth.
All international businesses, including Europe, Latin
America, Japan and
China, will now be under
Sullivan's leadership.
Rod Little and Eric O'Toole, President of North America of Edgewell Personal Care, have
agreed on the need for a new direction for North America; consequently, O'Toole will be
stepping aside from the role following a brief transition period,
with Little assuming direct responsibilities for the region on an
interim basis. An executive search is currently underway to fill
the position. Once the role is filled, it will continue to report
to Little.
"Eric joined us in 2020 and led our North American business'
return to growth in fiscal 2021 through fiscal 2023. He has been a
great partner who built a new and improved organization structure
and drove significant improvement in team engagement," said
Little.
Q3 Earnings
Edgewell also today announced results for its third fiscal
quarter 2024 and will host a live webcast of the earnings
conference call at 8:00 a.m. Eastern
Time. To access the webcast, press release, and other
supporting materials, please visit the Company's investor relations
website: https://ir.edgewell.com/.
About Edgewell Personal Care
Edgewell is a leading pure-play consumer products company with
an attractive, diversified portfolio of established brand names
including Schick® and Wilkinson Sword® men's shaving products;
Schick® and Billie® women's shaving products; Edge® and Skintimate®
shave preparations; Playtex®, Stayfree®, Carefree® and o.b.®
feminine care products; Banana Boat® and Hawaiian Tropic® sun care
products; Bulldog®, Jack Black® and Cremo® grooming products;
Fieldtrip™ skin care products; and Wet Ones®
hygiene products. The Company has a broad global footprint and
operates in more than 50 markets, including the U.S., Canada, Mexico, Germany, Japan, the U.K. and Australia, with approximately 6,800 employees
worldwide.
This document contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. You should not place
undue reliance on these statements. Forward-looking statements
generally can be identified by the use of words or phrases such as
"believe," "expect," "expectation," "anticipate," "may," "could,"
"intend," "belief," "estimate," "plan," "target," "predict,"
"likely," "will," "should," "forecast," "outlook," or other similar
words or phrases. These statements are not based on historical
facts, but instead reflect the Company's expectations, estimates or
projections concerning future results or events, including, without
limitation statements regarding our Adjusted EBITDA and Adjusted
EPS outlook for fiscal 2024, our strategy and growth opportunities
and the executive leadership team transitions. Many factors outside
our control could affect the realization of these estimates. These
statements are not guarantees of performance and are inherently
subject to known and unknown risks, uncertainties and assumptions
that are difficult to predict and could cause the Company's actual
results to differ materially from those indicated by those
statements. The Company cannot assure you that any of its
expectations, estimates or projections will be achieved. The
forward-looking statements included in this document are only made
as of the date of this document and the Company disclaims any
obligation to publicly update any forward-looking statement to
reflect subsequent events or circumstances, except as required by
law. You should not place undue reliance on these statements.
In addition, other risks and uncertainties not presently known
to the Company or that it presently considers immaterial could
significantly affect the accuracy of any such forward-looking
statements. Risks and uncertainties include those detailed from
time to time in the Company's publicly filed documents, including
in Item 1A. Risk Factors of Part I of the Company's Annual Report
on Form 10-K filed with the Securities and Exchange Commission on
November 28, 2023.
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SOURCE Edgewell Personal Care Company