Scott Friedman, the chief executive officer of NYX, is stepping down from his post, WWD has learned.
Michel Fahmy, general manager of NYX Professional Makeup USA, and Nathalie Kristo, general manager of marketing and global business development, will head the brand. The dual-reporting structure is similar to other L’Oréal-owned businesses, a source noted.
Fahmy will continue to be responsible for the U.S. side of the business, handling go-to-market strategies, and relationships with distribution partners like Ulta Beauty, as well as freestanding stores and e-commerce, while Kristo will continue to handle brand marketing and brand DNA globally.
Fahmy has been with L’Oréal since 2005, working on different brands, including Garnier and L’Oreal Paris, as well as corporate roles, like General Manager Caribe, where he oversaw operations in the Caribbean islands.
Kristo, too, is a L’Oréal veteran, working in various jobs at the beauty giant since 2000. Before NYX, she served as senior vice president of marketing for L’Oréal Paris. She’s also worked as the general manager for Garnier and Maybelline Canada and as international marketing manager for L’Oréal Paris.
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Friedman has been with NYX since 2011. Sources indicated his transition out of the brand has been in the works for months. “This definitely wasn’t even remotely a push-out thing,” a source familiar with the situation said. June 30 is Friedman’s last full-time day, but he plans to stay on with the business over the next several months.
Under his tenure, L’Oréal acquired NYX in 2014 (a deal with a price tag that sources indicated approached $500 million) and started opening freestanding stores. The company, however, is still based in Los Angeles with what Friedman has described as a significant amount of separation from L’Oréal. The brand, founded in 1999 by Toni Ko, has its own distribution center and still does its product development work out of Los Angeles, and doesn’t have to clear new launches through L’Oréal, Friedman has said. “We’re faster historically than most of L’Oréal,” Friedman said. “We’re independent and we have more stockkeeping units than most of the other brands.”