Helen of Troy appoints new ceo
Home & Textiles Today Staff -- Home Textiles Today, January 16, 2014
El Paso, Texas -- Housewares supplier Helen of Troy Limited appointed Julien Mininberg as ceo, succeeding ceo and president Gerald Rubin.
Currently, Mininberg serves as ceo and president of Helen of Troy's Healthcare/Home Environment segment. His new position is effective March 1, the beginning of the company's fiscal year. Thomas Benson, svp and cfo, will serve as interim ceo. Rubin is stepping down immediately to head an El Paso commercial real estate firm.
The company is also separating the roles of chairman and ceo and tapped Timothy Meeker, an independent director, to succeed Rubin as chairman of the board.
In a statement, Gary Abromovitz, deputy chairman and lead independent director, thanked Rubin for his leadership. "Jerry has built this company from the ground up - from a family business to a multinational organization with a diverse portfolio of businesses and revenues of nearly $1.3 billion in fiscal year 2013."
As a result of the ceo change, the company expects to record a charge of approximately $16.3 million in the fourth quarter. The company expects to realize net savings in ceo compensation in 2015 of $30.0 million.
Mininberg has been with Kaz since 2006, overseeing acquisitions, such as Pur water filters, and secured new licenses for brands such as Febreze. Before joining Kaz, Mininberg spent 15 years at Procter & Gamble.
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