Revlon named Jeffrey M. Nugent to be president-CEO, effective Dec. 5, succeeding George Fellows, who resigned. Mr. Nugent was formerly worldwide president of Johnson & Johnson's Neutrogena Corp. subsidiary. At Neutrogena, he was succeeded by Michael McNamara, formerly exec VP-global marketing officer. Mr. Fellows had led Revlon's recent efforts to find a buyer for the company in order to reduce a debt load estimated at $1.7 billion by analysts. Revlon called off the search in October when it couldn't find buyers willing to meet its price and announced it will sell its Revlon Professional Products division and several Latin American brands.
Copyright November 1999, Crain Communications Inc.