Oriflame has appointed Robert Bensoussan as Chairman of Oriflame Holding and Oriflame Investment Holding PLC. His appointment has become effective from the completion date of the company’s recapitalisation transaction, which has been targeted for later this year.
The announcement has come as part of Oriflame’s comprehensive recapitalisation transaction, which has reduced debt by approximately €550 million, extended the group’s revolving credit facility, and provided a €50 million capital injection from shareholders and a consortium of existing investors.
Bensoussan has brought with him extensive experience in transforming and scaling global consumer brands. He has previously served as CEO of Jimmy Choo, where he led its international expansion, and as Chairman of Feelunique.com until its sale to Sephora. He has also served on the boards of several public and private companies including Interparfums and Lululemon.
Alexander af Jochnick has continued as a board member and will play an active role in the company’s strategic direction.
Jochnick said: “I am delighted to welcome Robert as Chairman at this pivotal moment for Oriflame. Having secured the terms of the recapitalisation of the company, we are focused on delivering the operational transformation and continuing to serve our Beauty Entrepreneur community worldwide. The af Jochnick family remains fully committed to Oriflame and I look forward to working with Robert and the Oriflame board as we guide the company through this next chapter.”
Bensoussan said: “It is a privilege to join Oriflame at a time when the foundations for a sustainable future are being reset. The new investment from the af Jochnick family and long-term investors materially strengthens the company and provides a runway for growth, enabling us to invest in product innovation and Oriflame’s Beauty Entrepreneur community, who make the business’ social selling model so successful. I look forward to collaborating with Anna Malmhake and the management team as we navigate Oriflame’s return to consistent growth while building on this company’s legacy of inspiring, empowering and supporting entrepreneurial people all over the world.”
Anna Malmhake, CEO of Oriflame, said: “Today marks the beginning of a new chapter in Oriflame’s story. Our recapitalisation, backed by the af Jochnick family and long-term European investors, gives us a stable platform and a de-levered balance sheet, so we can focus on our transformation plan. I’m excited to partner with Robert to continue our legacy of innovation and help our Beauty Entrepreneur community thrive. I am confident that, with Robert and the Board, we can turn this momentum into consistent, sustainable growth.”
