Retail appointments of the week
Modibodi names Kerry Cusack as executive director
By Sean Cao
Global absorbent apparel brand Modibodi has appointed Kerry Cusack as its new executive director, effective July 31.
Cusack brings a wealth of experience across many sectors, having served as CMO at Alquemie Group and head of International Business for Retail Apparel Group, along with a career highlight of building and running her own apparel business – Bondi Bather Swimwear.
Based in Modibodi’s Head Office in Sydney, she will be responsible for leading the Modibodi global team, strategy, and execution.
“Modibodi has redefined leakproof apparel and created a business built on trust and authenticity, designing sustainable products with the needs of the consumer at their very heart whilst breaking stigmas and taboos,” said Cusack.
“It’s these values that attracted me to the brand and I am looking forward to building on Modibodi’s success and continuing to deliver strong growth globally.”
Commenting on the appointment, Caitlin Patterson, executive GM Retail Essity Australasia and Advisory Board member Modibodi, said Cusack is “perfectly placed” to develop the Modibodi brand to continue its stellar trajectory.
Founded in 2013 by Kristy Chong, Modibodi pioneered life-changing leakproof apparel for periods and incontinence including underwear, swimwear, activewear, and maternity wear.
Chong stepped down as CEO after selling the brand to Swedish health company Essity for $140 million in July 2022.
Revlon CEO Debra Perelman steps down
By Sean Cao
Debra Perelman has stepped down from her role as president and CEO of Revlon Group Holdings.
The cosmetics company has appointed Elizabeth A Smith as interim CEO, effective immediately, while Perelman will serve as an advisor during a transition period.
Smith previously served as executive chairman and CEO of Bloomin’ Brands, was chair of the Federal Reserve Bank of Atlanta, and president of Avon Products.
“It has been an honour to lead the talented and dedicated Revlon team over the past five years, and I am grateful to my colleagues for their partnership and support throughout this time,” said Perelman.
“With a successful financial restructuring behind us, I believe now is the right time to pass the torch.”
Prior to her role as CEO, Perelman served as COO of Revlon. With over 20 years at the company, she assumed multiple roles across all facets of the business, including finance, distribution and sales operations, international, and marketing.
She also oversaw the company’s corporate strategy, led its digital transformation, and has an impressive track record of innovation.
Farfetch names new chief financial officer
By Dean Blake
UK-based online fashion company Farfetch has appointed Tim Stone as its new chief financial officer, succeeding Elliot Jordan who is exiting the role after eight years at the business.
Stone previously held senior financial roles at Ford Motor Company and Amazon, where he served as CFO for the retailer’s web services, devices and digital content businesses.
Farfetch founder José Neves said that he is delighted to welcome Stone to the business.
“His more than two decades of experience in helping shepherd a leading consumer marketplace with a focus on delivering profitable, sustainable growth are an ideal match for this next chapter of Farfetch’s trajectory,” Neves said.
“Once again, I offer my heartfelt thanks to Elliot for all his contributions.”
Stone’s first day in the role will be September 1.
Nykaa sees mass executive exodus
By Dean Blake
Indian beauty giant Nykaa has experienced an exodus of talent in the last few months.
According to Reuters, the company’s chief marketing officer Shalini Raghavan has stepped down, as well as its senior vice president for retail Kingshuk Basu and senior vice president for fashion Sumant Kasliwal.
Aditya Sandhu from the company’s business-to-business sales, Sachin Kataria, a vice president in its e-commerce business, and Shantanu Prakash, a vice president for marketing and communications, have also departed.
This follows the departure of five key executives in March, including Nykaa’s chief commercial operations officer and the CEO of its wholesale business, Reuters reported.
The business didn’t divulge why the executives left, but it told Reuters that it was augmenting its leadership roles “with an eye on strategic realignment, cost rationalisation, and growing complexity of the business.”
For the time being, Nykaa founder and chief executive Falguni Nayar is overseeing marketing.
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