VAUGHAN, ON, Aug. 10, 2021
/CNW/ - MAV Beauty Brands Inc. ("MAV Beauty Brands" or
the "Company") (TSX: MAV), a global personal care platform,
announced today that its Board of Directors (the "Board") has made
the following executive leadership appointments:
Appointment of Serge
Jureidini as President and Chief Executive
Officer
The Board has appointed Serge
Jureidini as President and Chief Executive Officer,
effective August 17, 2021.
Tim Bunch has left the Company, and
Chris Elshaw, Chairman of the Board,
will act as Interim Chief Executive Officer until Mr.
Jureidini commences employment.
"I would like to thank Tim for all his efforts and wish him
every success in the future," said Chris
Elshaw, Chairman of the Board. "In Serge, we believe we have
found a leader for the next stage of MAV Beauty Brands' journey.
The Board remains committed to the evolution of the business,
through both organic growth and accretive acquisitions, while
benefiting from the operational scale of the platform."
Serge Jureidini brings over 30
years of beauty and personal care business experience to his
leadership of MAV Beauty Brands. Most recently, Mr. Jureidini was
the Chief Marketing Officer at Revlon Inc., a multinational
cosmetics, skin care, fragrance and personal care company. Earlier
in his distinguished career, Mr. Jureidini held senior positions in
other beauty and personal care companies, including as the
President and Chief Executive Officer of Arcade Beauty, as the
President of Lancôme USA and in a
variety of roles within the Luxury Division of L'Oréal. Mr.
Jureidini holds a Master of Management degree from École des Hautes
Études Commerciales de Paris.
"I am excited to be joining MAV Beauty Brands and its remarkably
talented team and founders. MAV has established a strong global
personal care operating platform with four dynamic and
differentiated brands in attractive categories and I look forward
to building on this solid foundation, both organically and by
acquiring additional high-growth brands over time," said
Serge Jureidini.
Appointment of Laurel
MacKay-Lee as Chief Financial Officer
The Board has appointed Laurel MacKay-Lee as Chief
Financial Officer, effective August 30,
2021. Niv Majar, who has done
an admirable job filling in as Interim Chief Financial Officer,
will continue in his position as the Vice President of Finance of
the Company.
Laurel MacKay-Lee is an
experienced retail and finance executive with over 20 years of
industry experience. Most recently, Ms. MacKay-Lee was the Chief
Operating Officer at Stream Commerce, a full-service ecommerce
agency. From 2012 to 2018, Ms. MacKay-Lee was a Vice
President in various roles at The Shopping Channel, a division of
Rogers Communications Inc. Prior to that, Ms. MacKay-Lee held
various senior roles at Skyservice Business Aviation, Cara
Operations Limited and Loblaw Companies Limited. Ms. MacKay-Lee
earned her Chartered Professional Accountant (CPA, CA) Designation
while at KPMG LLP and holds a Bachelor of Commerce degree from the
University of Toronto.
"It is exciting to have someone with the breadth of financial
and operational experience as Laurel joining MAV Beauty Brands as
our Chief Financial Officer," said Chris Elshaw, Chairman of the Board.
"Laurel has exceptional financial reporting and operational acumen
and will undoubtedly strengthen our senior leadership team."
About MAV Beauty Brands (TSX:MAV)
MAV Beauty Brands is a global personal care platform focused on
acquiring great independent brands and helping these brands to
scale and win market share. We have built an operating platform to
build brands through expanded distribution, innovation, and
marketing. Today, we have a diversified portfolio of four
complementary personal care brands – Marc
Anthony, Renpure, Cake Beauty and The Mane Choice – offering
premium quality hair care, body care and beauty products. These
products are sold in over 30 countries around the world and in more
than 100 of the world's largest retailers.
Forward-Looking Information
Certain information in this press release, including statements
related to the Company's appointment of Serge Jureidini as President and Chief Executive
Officer and Laurel MacKay-Lee as
Chief Financial Officer and the Company's strategies for the growth
of the business, constitutes forward looking information. In some
cases, but not necessarily in all cases, forward-looking
information can be identified by the use of forward-looking
terminology such as "plans", "targets", "expects" or "does not
expect", "is expected", "an opportunity exists", "is positioned",
"estimates", "intends", "assumes", "anticipates" or "does not
anticipate" or "believes", or variations of such words and phrases
or state that certain actions, events or results "may", "could",
"would", "might", "will" or "will be taken", "occur" or "be
achieved". In addition, any statements that refer to expectations,
projections or other characterizations of future events or
circumstances contain forward-looking information. Statements
containing forward-looking information are not historical facts but
instead represent management's expectations, estimates and
projections regarding future events.
Although the Company believes that the forward-looking
statements in this press release are based on information and
assumptions that are current, reasonable and complete, these
statements are by their nature subject to a number of factors that
could cause actual results to differ materially from management's
expectations and plans as set forth in such forward-looking
statements, including, without limitation, the following factors,
many of which are beyond the Company's control and the effects of
which can be difficult to predict: (a) the duration, severity and
risks of the COVID-19 pandemic and the resulting impact on the
Company's sales, operations and business, and (b) other risks
inherent to the Company's business and/or factors beyond its
control which could have a material adverse effect on the
Company.
Forward-looking information is necessarily based on a number of
opinions, assumptions and estimates that, while considered
reasonable by MAV Beauty Brands as of the date of this press
release, are subject to known and unknown risks, uncertainties,
assumptions and other factors that may cause the actual results,
level of activity, performance or achievements to be materially
different from those expressed or implied by such forward-looking
information, including but not limited to the factors described in
greater detail in the "Risk Factors" section of the Company's
Annual Information Form dated March 30,
2021 for the year ended December 31,
2020 and the Company's other periodic filings made available
at www.sedar.com. These factors are not intended to represent a
complete list of the factors that could affect MAV Beauty Brands;
however, these factors should be considered carefully. There can be
no assurance that such estimates and assumptions will prove to be
correct. The forward-looking statements contained in this press
release are made as of the date of this press release, and MAV
Beauty Brands expressly disclaims any obligation to update or alter
statements containing any forward-looking information, or the
factors or assumptions underlying them, whether as a result of new
information, future events or otherwise, except as required by
law.
SOURCE MAV Beauty Brands