Del Labs CEO Steps Down
NEW YORK — William McMenemy, who had risen to president and chief executive officer of Del Laboratories Inc. following its acquisition by DLI Holding last year, has abruptly resigned and been succeeded by Charles J. Hinkaty, currently Del’s chief operating officer.
McMenemy, who will remain on the Del board, commented Tuesday that after completing the transition with DLI, he had evaluated all of the business options available and decided to pursue other interests.
“I’m prideful of the many successes that the company has achieved,” he said in a statement, “and that I’m stepping down at a time with our core brands in leadership positions in their categories. I’m looking forward to pursuing other business interests and remaining in contact with all of my friends and associates.”
McMenemy has had a 40-year career at the Uniondale, N.Y., beauty and personal care company, dating back to when the firm was based in nearby Farmingdale. McMenemy started in the mail room when he was 19 and worked his way up through the ranks. Before becoming president and ceo, he was deeply involved in marketing as executive vice president of marketing.
His decision to step down, which will take effect Friday, stands in sharp contrast to the optimistic tone he had taken during an interview in March. With the DLI takeover behind him, he had talked about the availability of financing and the possibility of Del making acquisitions beyond its mass market beauty turf. One inviting hunting ground was the salon industry. In May, Del had launched an Elizabeth Arden nail polish line, a license Del acquired last year.
Hinkaty joined Del in 1985 as president of Commerce Drug Co., which is now Del Pharmaceuticals Inc. He was elected to the board in 1986 and is a member of the executive committee. Hinkaty previously spent 12 years at Bristol-Myers in a variety of marketing and general management positions. From 1999 to 2001, he chaired the Consumer Healthcare Products Association. He also was a vice president at Citibank.
“With our strong brands and the talent that resides in the organization,” Hinkaty stated, “we have a solid foundation on which to continue to build for the future.” Del manufactures and markets cosmetics and over-the-counter pharmaceuticals. Its two flagship brands are Sally Hansen and Orajel.
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