Cosmetics company Revlon has named Michelle Peluso its new chief executive officer, effective November 4. Peluso replaces Liz Smith, who served as interim chief executive from August 2023, and will return to her role as executive chair. Peluso will also join the company’s board.

Peluso arrives from CVS Health, where she was chief customer and experience officer. She was previously chief marketing officer at IBM and Citi, and also sits on the Nike board.

In addition to its eponymous affordable cosmetics line, Revlon owns brands such as the skincare line Elizabeth Arden and the nail care lines CND and Cutex. In May 2023, the company emerged from bankruptcy proceedings after cutting more than $2.7 billion in debt and handing control of the company to its lenders.

In a statement, Peluso said her goal was to unlock the growth potential of its brands, describing it as an “important time” in the company’s history.

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