Elizabeth Arden has turned to ex Procter and Gamble man Rod R. Little to become its new Executive Vice President and Chief Financial Officer.
E. Scott Beattie, Chairman and Chief Executive Officer commented, “Rod is a seasoned financial executive with a strong background in the beauty market and significant international experience.”
“Having led a large global finance organization within P&G, Rod earned a reputation as a strong, ‘hands on’ organizational leader and an excellent collaborator with commercial teams.”
Little joins Elizabeth Arden from P&G where, since 2009, he served as Chief Financial Officer for P&G’s Global Salon Professional division, a $2 billion global business, and led a 200 person finance organization in over 20 countries.
He joined P&G in 1997, after serving in the U.S. Air Force for five years, and steadily progressed at P&G through numerous corporate finance and divisional finance leadership roles of increasing responsibility.
Along with significant global beauty experience, Little brings recent international experience having lived and worked outside of the U.S. for the past five years, managing specific divisional growth initiatives in Europe and Asia.
As the finance leader for Wella after its acquisition by P&G, he was responsible for the integration of that division, gaining experience working to restructure its business while helping to drive consistent sales growth and gross margin expansion.
“Having played a leadership role in similar business situations and industries, I am confident that we can develop and execute plans to drive consistent sales and margin growth,” he says.
“I look forward to becoming part of the Elizabeth Arden family and partnering with the team to build the business.”
At the start of the year, the company reported that sales growth in the all-important holiday period remained stagnant, forcing the company to downgrade forecasts for the full year.
The preliminary results show that net sales for the quarter should be in the region of $415m to $418m, compared to net sales of $468m in the corresponding period last year.
The company predicts that earnings will also be hit by the fall in sales, with adjusted EPS estimated in the region of $1.05 to $1.08, compared to $1.58 in the corresponding period last year.