The election of Jordan increases the number of independent directors on the twelve strong executive board to eight, maintaining a majority of independent members serving on the committee.
At the age of 74, Jordan brings a wealth of experience to the board, having served on the executive board at Johnson & Johnson from 1981 to 2007, amongst a string of other similar positions.
Currently she serves as a director for Catalyst, a non-profit organization for women’s initiatives, as well as acting as an honorary trustee for the University of Chicago and the Brooking Institution – a non-profit public policy organization.
Alan Enis as CFO
The move is the second new appointment on the board in as many months, following the appointment of Alan Enis who took up the position of chief financial officer on March 1.
The appointment of Enis and Jordan comes during a difficult period for the company, which has been hard hit by the current economic downturn.
Results for the US-based company suffered in the latter part of 2008 from a strong dollar and the weakness of some of its leading brands.
Fourth quarter sales down
Sales for the fourth quarter were down 10.4 percent to $334.2m, despite a significant marketing and advertising push during the period.
Increased costs and lower sales did not do fourth quarter profit any favors, slipping 70.2 percent to $11.3m.
Like many of its peers, Revlon’s annual results were pulled down by the particularly difficult fourth quarter.