PARIS – Puig has appointed Jose Manuel Albesa to the newly created role of deputy chief executive officer.
In the position, Albesa will report to Marc Puig, company chairman and chief executive officer, and maintain his current position as beauty and fashion president.
“I have worked closely with Jose Manuel since I became CEO in 2004 and can attest that his passion, deep understanding of Puig’s values and talent as a brand-builder and leader have been instrumental in our transformation to becoming the global premium beauty player we are today,” said Marc Puig, in a statement Tuesday after the stock market close.
“He is uniquely suited for this new role, and I look forward to continuing our trusted partnership as we enter the next phase in Puig’s development,” continued the executive. “I remain fully committed to my role as chairman and CEO, and together, we will make sure Puig is in the strongest possible position for the future.”
Sales for the Spanish beauty and fashion company in the six months ended June 30 reached 2.3 billion euros, which increased 5.9 percent on a reported basis and 7.6 percent on like-for-like terms, outpacing the premium beauty market.
“Fragrance continued to perform well and the recovery in makeup in the second quarter was encouraging,” said Puig.
The group’s reported net profit gained 78.8 percent to 275 million euros, against a weak comparable in the prior year, which was negatively impacted by extraordinary items, such as costs related to Puig’s initial public offering.
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