07.31.18
Milani Cosmetics has named a new chief executive officer -- Grace Ray.
Effective July 31, Ray will replace current interim CEO, Michelle Taylor, who will move into the Chairman of the Board role at the Company. Taylor replaces Dennis O'Brien, Partner at Gryphon Investors, who served as interim Chairman after Gryphon acquired a majority stake in Milani in June of this year.
Ray is an accomplished executive within the beauty industry. She most recently served as CEO of haircare company, Living Proof, where she oversaw and executed dramatic growth in brand awareness, sales, and profitability. Ray played an integral role in Living Proof's sale to Unilever, in 2016. Ray has also held senior leadership positions at Smashbox Cosmetics and L'Oréal.
Taylor says, "We are delighted to have Grace join Milani Cosmetics...she brings extraordinary experience to the team and has a successful track record of stewarding private companies towards achieving their growth potential and transforming them into highly desirable brands. Her background with both cosmetics and beauty businesses gives her an important knowledge base of the levers required for growth in a modern makeup brand."
Ray comments, "Milani is smartly positioned in the fast-growing 'masstige' category where we can offer high quality and good value without having to compromise on either. This is exactly what consumers want today. It is important that we continue to introduce new innovations, enforce our strong retailer relationships, invest in consumer pull, and grow our international markets."
