The cosmetics company has appointed Nike senior executive G. Scott Uzzell as its new CEO.
Helen of Troy Ltd. (HELE) late Wednesday announced that it has appointed Nike senior executive G. Scott Uzzell as its CEO. Shares were up nearly 1% in Thursday’s premarket trading.
Uzzell, who will assume the role on Sept. 1, is a corporate vice president and general manager of Nike’s North American business. Earlier, between 2019 and 2023, he served as the president and CEO of Converse, which Nike acquired in 2003.
Brian Grass, Helen of Troy’s interim CEO, will return to his role as CFO, according to a company statement.
On Stocktwits, the retail sentiment for the company’s shares remained in the ‘bearish’ territory as of early Thursday, unchanged over the past week. Helen of Troy’s stock is down 60% year-to-date and 90% lower than its peak in February 2021.
The appointment comes at a time of extended weakness and restructuring at the cosmetics company. Its sales have shrunk in each of the last three years, with analysts expecting a larger drop this year as U.S. tariffs affect consumer demand.
Last quarter, the company booked an impairment charge related to its beauty segment as it implements a multi-year restructuring and cost-cutting program, along with diversification of its supply chain to reduce reliance on China.
Helen of Troy sells health and beauty products under brands like OXO, Hydro Flask, Osprey, Revlon, and Olive & June.
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