SANTA BARBARA, Calif. - Olaplex Holdings , Inc. (NASDAQ:OLPX), a beauty company known for its innovative hair care products, announced today that Chief Financial Officer Eric Tiziani will resign effective May 3 to pursue a new opportunity.
The company has commenced an external search for a new CFO with the assistance of a leading executive search firm. In the interim, Paul Kosturos will step in as CFO following Tiziani’s departure.
Kosturos, a seasoned executive with over three decades of financial experience, is currently a Managing Director at Alvarez & Marsal and has specialized in interim CFO roles since 2009. His background spans various industries including retail, consumer goods, and telecommunications.
CEO Amanda Baldwin expressed gratitude for Tiziani's contributions, particularly during Olaplex's IPO and periods of significant profitability. Tiziani reciprocated the sentiment, praising the company's foundation and leadership.
Alongside the CFO transition, Olaplex reaffirmed its first-quarter net sales guidance of $92 million to $97 million, which was previously announced on February 29, 2024. The company emphasized that the actual net sales are subject to quarter-end closing procedures.
Olaplex, established in 2014, has been recognized for its bond-building technology in hair care, aiming to improve hair health for consumers. The company sells its products through professional, specialty retail, and direct-to-consumer channels, maintaining a strong omnichannel presence.
The information in this article is based on a press release statement from Olaplex Holdings, Inc.
InvestingPro Insights
As Olaplex Holdings, Inc. (NASDAQ:OLPX) navigates the executive transition with the upcoming departure of CFO Eric Tiziani, investors and stakeholders have a keen eye on the company's financial health and prospects.
According to InvestingPro data, Olaplex has a market capitalization of approximately $1.2 billion and a trailing twelve months P/E ratio as of Q4 2023 of 16.86, which may appeal to value-oriented investors. The company's gross profit margin is impressive at 71.35%, highlighting the efficiency of its operations and the premium nature of its products.
One of the InvestingPro Tips for Olaplex is its strong free cash flow yield, indicating the company's ability to generate cash and potentially reinvest in growth or return value to shareholders. Despite not paying a dividend, the focus on free cash flow is a critical aspect for investors considering the long-term potential of the company.
Another tip reflects on the company's stock price volatility, which has seen significant declines over the past year and five years. This could signal a potential opportunity for investors willing to endure market fluctuations with a belief in the company's fundamental strengths.
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