Under new ownership, skin-care company Algenist has made two new hires.
July Bocabeille is taking over as chief financial officer, and Rose Fernandez joins the business as senior vice president of sales. Both women start this week.
Bocabeille joins from Beauté Prestige International, a Shiseido subsidiary, where she was vice president of finance and sales operations. Before that, she was with Möet Hennessey Louis Vuitton, working as senior director of finance and controlling for the Christian Dior perfumes in the US. And Canada. She has also worked as a financial analyst for Siemens Corp.
Fernandez joins Algenist from Jurlique, where she was vice president and general manager for North America. That role followed about a year that Fernandez spent at Kate Somerville Skin Care, and roughly a decade that she spent with Murad. Both of those brands were eventually acquired by Unilever.
The hires come shortly after private equity firm Tengram Capital Partners acquired an 80 percent stake in Algenist in August for about $20 million. Former owner TerraVia still owns a minority position in the business.
“We are going from being under a parent company like TerraVia and being dependent on an entity…it’s time to bring in a number of parents to the brand and step up,” said chief executive officer Frederic Stoeckel. “There are great parents in the team already, but to bring more parents and expertise makes sense.”
Bocabeille will be in charge of building up Algenist’s financial side. “The first thing as a stand-alone [company] is to have our own finance team,” Stoeckel said. “She is bringing a lot of expertise, a lot of knowledge [that is] going to help to really build the infrastructure here.”
Fernandez’s position is a new one, according to Stoeckel. “We didn’t have this position before, I had three people reporting to me in sales,” he said. “She’s known, she’s not coming from a different industry, so that’s good for us,” Stoeckel added.
Under Tengram, Algenist will focus on building out its product line, including its recently launched venture into color cosmetics. He previously told WWD: “The opportunity is to keep building our brand assortment in the right way. We have expanded to makeup recently with the launch of a color collection line and we are going to keep building up — not just in skin care but in makeup as well. That will be a big driver for us.”