Following the agreement of its comprehensive recapitalisation transaction (the “Recapitalisation Transaction”), which reduces debt by approximately €550m, extends the group’s revolving credit facility and provides a capital injection of €50m from the shareholders and a consortium of existing investors, Oriflame is pleased to announce the appointment of Robert Bensoussan as Chairman of Oriflame Holding limited and Oriflame Investment Holding PLC, with his appointment to become effective from the date of completion of the Recapitalisation Transaction, targeted for later this year.
Robert Bensoussan has significant experience scaling and reshaping premium consumer brands, most notably as CEO of Jimmy Choo, where he led a rapid international expansion, and as Chairman of Feelunique.com, through to its sale to Sephora. He also served on several boards, of both public and private companies, across his career, such as Interparfums (Nasdaq: IPAR) and Lululemon (Nasdaq: LULU). His extensive track record and expertise will be extremely valuable to the long-term success of the business.
Alexander af Jochnick will remain a board member and will continue to play an important role in the future of the business. Alexander af 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