Industry News Sponsored by
Mary Kay Inc. announced the promotion of David Holl to president and chief executive officer. As leader of the company’s executive committee, Holl will direct all operational and fiscal initiatives for more than 4,000 Mary Kay Inc. employees worldwide who support the company's expanding independent sales force, which currently exceeds 1.6 million independent beauty consultants in more than 30 global markets, reported the company.
In a related move, Richard R. Rogers, son of Mary Kay Ash and company cofounder, assumed the title of executive chairman of the board. Rogers will continue to provide strategic direction and long-range planning for the privately held company that generated total wholesale revenues of US$2.2 billion in 2005. Holl joined Mary Kay Inc. in 1993 and has served in a variety of roles including chief financial officer and treasurer and, most recently, president and chief operating officer.
"Throughout the past 13 years, [Holl’s] leadership and expertise have contributed significantly to Mary Kay's unprecedented growth, including our successful expansion into Eastern Europe and China, which today represent our fastest-growing markets," said Rogers in a press statement. "For the past five years, [Holl] has been managing the bulk of the company's day-to-day operations, so this promotion is much deserved.”
Mary Kay Inc., one of the largest direct sellers of skin care and color cosmetics in the world, achieved a year of record results in 2005, exceeding US$2.2 billion in wholesale sales.