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Revlon names 1st female CEO

Cosmetics company Revlon Inc. appointed Debra Perelman as its first female CEO, effective May 23.

Perelman, a member of Revlon's board, joined the company after Fabian Garcia stepped down in January. Most recently, she was the company's COO.

"Beauty has emerged as one of today's most dynamic and fastest-growing industries, and I look forward to working with Revlon's world-class team to amplify our strategy and accelerate growth," Perelman said.

Paul Meister, who was overseeing operations on an interim basis, will continue as executive vice chairman of the board.

Ronald Perelman, chairman of Revlon's board, said Debra Perelman's "global perspective, financial acumen and holistic approach" will help the company.