Supplier News Breaks Archives
Physicians Formula appoints permanent CFO
February 22nd, 2010
AZUSA, Calif. – Prestige cosmetics supplier Physicians Formula Holdings Inc. has named Jeff Berry as chief financial officer.
The company, which develops, markets and distributes premium-priced cosmetic products for the mass market channel, said Monday that Berry had served as interim CFO since late May. He replaced previous CFO Joseph Jaeger.
"I am thrilled to join as the company's permanent CFO," Berry said in a statement. "I have long believed in the strategic and financial prospects of Physicians Formula, and I look forward to playing a leadership role in helping the Company realize that potential."
Berry had been on the company's board since October 2007 and served as the chairman of the nominating and corporate governance and compensation committees and as a member of the audit committee. He agreed to resign from the board upon accepting the interim CFO position to comply with Nasdaq listing requirements.
"We are delighted that Jeff has agreed to assume the role of CFO," commented Ingrid Jackel, Physicians Formula chairman and chief executive officer. "We believe Jeff's strategic and financial skills, as well as his leadership capabilities, will play a critical role in helping the company achieve its long-term growth and profitability objectives. His contribution as interim CFO, and most notably his leadership in our recent successful refinancing, which was designed to provide us with more flexibility to invest in our brand, has been invaluable, and I look forward to working with Jeff as we now focus on seeking to capture the large growth potential of our brand."
Before serving as the Physicians Formula's interim CFO, Berry was treasurer and head of strategy and business development at Del Monte Foods. He also has served as a management consultant at McKinsey and Co. and at Bain and Co. and as an adviser to private equity companies investing in consumer goods.
Physicians Formula brand products, which the company said are aimed at addressing skin imperfections through a problem-solving approach rather than focusing on changing fashion trends, are sold in about 23,700 stores, including CVS, Rite Aid, Walmart and Target.