NEW YORK--(BUSINESS WIRE)--e.l.f. Cosmetics, one of the fastest growing cosmetics brands in the U.S., announced today that it has appointed consumer products veteran Tarang P. Amin as President, Chief Executive Officer, and Director effective immediately. Amin replaces former CEO Joey Shamah, who will continue as a significant investor and Director and will maintain an ongoing management role in the company. TPG Growth, the middle market and growth equity investment platform of TPG, announced on February 3, 2014 it had acquired a majority stake in e.l.f. Cosmetics.
Amin, 48, has more than 20 years of consumer products experience, as well as a demonstrated record of driving profitable growth at the companies he leads. Most recently he served as President, Chief Executive Officer, and Director of Schiff Nutrition, with leading brands Airborne, MegaRed, Digestive Advantage, and Move Free. Under his leadership, Schiff’s enterprise value grew from $190 million to $1.5 billion over two years.
“Tarang has a proven record of growing consumer brands, and we believe he can leverage the strong foundation Joey and his team have built at e.l.f. and help expand the brand in new and exciting ways,” said John Bailey, principal at TPG Growth. “We are confident that Tarang can take a great company like e.l.f. and make it even stronger.”
“e.l.f. is a vibrant brand and a great opportunity exists for it to become a global powerhouse,” said Amin. “We will be working closely toward this goal with our partners at TPG Growth by bolstering the brand, leading innovation, expanding distribution, and improving operations. It’s an exciting time for me to join and lead the company.”
“We welcome Tarang to e.l.f., and believe his success at building major consumer brands will be quite valuable in the next stage of the company’s growth,” said Joey Shamah, co-founder and former CEO of e.l.f. Cosmetics. “With TPG Growth and Tarang behind e.l.f., we have added key resources to build-out our attractive niche in cosmetics and maximize the value of the brand.”
Previously, Amin was Vice President, General Manager of The Clorox Company’s $1.7 billion Litter, Food and Charcoal Strategic Business Units, taking Kingsford, Hidden Valley, and Fresh Step to new records. He also served in senior management roles that helped to double the sales of the global Clorox franchise to $1.5 billion. Prior to Clorox, Amin held management positions at Procter & Gamble where he helped grow Pantene’s sales from $50 million to $2 billion, as well as helped increase sales of Bounty by $300 million. Amin holds a bachelor's degree in international policy and a master's degree in business administration from Duke University.
Company Also Announces Key Appointments to Management Team
In addition to Amin, e.l.f. also announced other key additions to its management team effective immediately, including Richard F. Baruch Jr., Senior Vice President, Chief Commercial Officer; Erin Daley, Senior Vice President, Chief Marketing Officer; Scott K. Milsten, Senior Vice President, General Counsel; and Megan O’Connor, Vice President, Digital.
“We are fortunate to have this seasoned leadership team join us at e.l.f., each of whom I have worked with in the past and whose experience and commitment will be invaluable to our company,” said Amin. “Their consumer products expertise combined with the e.l.f. team’s outstanding performance in color cosmetics and beauty, will enhance our management capacity to pursue an aggressive growth agenda.”
Below is additional information on the new executive team:
Richard F. Baruch Jr., Senior Vice President, Chief Commercial Officer – Baruch most recently served as Senior Vice President and Chief Commercial Officer at Schiff Nutrition. Previously, he was Vice President – Category Advisory Services at Coca-Cola Refreshments where he led an initiative to build a new organization and bring a new set of capabilities to Coca-Cola’s North American business. Previously, Baruch was President and Chief Operating Officer of Cotn’Wash, Inc. Prior to that, Baruch spent 14 years at The Clorox Company in a number of leadership roles, with the most recent as Vice President and General Manager of the Home Care business. He began his career at Procter & Gamble in various sales management roles. Baruch holds a bachelor’s degree from the University of Pennsylvania.
Erin Daley, Senior Vice President, Chief Marketing Officer – Daley most recently served as Vice President of Marketing and New Products at Schiff Nutrition, having led initiatives resulting in more than 35% of company revenue being generated from new items and having established a future product pipeline valued in excess of $100 million. Prior to Schiff, Daley had over 16 years of leadership experience in brand management and communications. She served as Director of Solutions Marketing for Pacific Gas & Electric Company, and was a Brand Manager at Procter & Gamble where she launched Crest Whitestrips and developed Charmin Ultra Strong. She began her career in Washington, D.C. as a legislative affairs and communications representative. Daley holds a B.A. in Economics from the University of Michigan and an M.B.A. from Cornell University.
Scott K. Milsten, Senior Vice President, General Counsel and Corporate Secretary – Most recently, Milsten served as Senior Vice President, General Counsel and Corporate Secretary at Schiff Nutrition. Prior to Schiff he was Senior Vice President, General Counsel and Corporate Secretary of Celera Corporation, a healthcare diagnostics company, until Celera's sale to Quest Diagnostics. Prior to Celera, Milsten was Deputy General Counsel for Gen-Probe Incorporated. He started his career practicing corporate law with the law firm of Latham & Watkins LLP. Milsten holds a B.A. in English from Duke University and a J.D. from the University of Pennsylvania Law School.
Megan O’Connor, Vice President, Digital – O’Connor most recently led Digital Marketing and eCommerce for Schiff Nutrition. Prior to that, she was a founding employee and key member of the leadership team of American Giant. O’Connor was previously Director of Marketing for Levi’s, where she led digital marketing strategies and implementation. She also has experience launching ecommerce and digital marketing for Estée Lauder, Colgate and Procter & Gamble. O’Connor holds a B.A. from Lafayette College.
About e.l.f. Cosmetics
e.l.f. is one of the most exciting and innovative companies in the beauty industry. Founded in 2004, e.l.f. began primarily as an online retailer (www.eyeslipsface.com) giving it a unique digital presence and establishing it as an online beauty authority. e.l.f.’s digital success influenced several large retailers to adopt the brand and the company now has permanent in-line displays and seasonal placement in many major mass retailers. e.l.f. has become one of the fastest growing cosmetics brands in the U.S. with its multi-channel distribution strategy, strong digital and social presence, and an integrated global supply chain operation.
About TPG Growth
TPG Growth is the middle market and growth equity investment platform of TPG, the global private investment firm. With $3.6 billion under management, TPG Growth targets investments in a broad range of industries and geographies, utilizing leveraged buyout, growth equity, and private investment in public equity (PIPE) structures. The firm is backed by the resources of TPG, which has $55.7 billion of assets under management. TPG Growth has offices in the United States, China and India. For more information, visit www.tpggrowth.com.