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EX-BEECHAM EXEC PERGOLA RETURNING TO REVLON

Executive Summary

EX-BEECHAM EXEC PERGOLA RETURNING TO REVLON to head the Beauty Care Group as president, effective July 16. The Beauty Care Group handles over $200 mil. in brands such as Flex, Mitchum, Internationals shampoo and No Sweat antiperspirant/deodorant. Pergola will report to Duane Miller, president of Revlon Beauty Care, Health Care and International divisions. Most of Pergola's business experience of over 32 years has been on the OTC drug side. Some of the products he is taking over at Revlon, however, are familiar to him. The Mitchum line, for example, was a part of Norcliff-Thayer when Pergola headed that business previously for Revlon. Pergola's return to Revlon could presage more interest by the cosmetics firm in the OTC drug market. Some industry analysts have speculated that Revlon's growth potential in the cosmetics industry has reached its limit. At a recent industry meeting, for example, Nicholas Hall, a European publisher in the OTC area, speculated that Revlon and L'Oreal could emerge as international powers in the OTC business by mid-decade ("The Pink Sheet," May 14, page 13). An expansion into a field such as OTCs could provide a new area for growth. Pergola's experience and contacts in the field would be a boost in building a presence in the OTC business. Pergola, a pharmacist, was chairman of the Nonprescription Drug Manufacturers Association from 1983-1985. He has also served on the board of NDMA and the Cosmetic, Toiletry and Fragrance Association. In May, Pergola retired from SmithKline Beecham as president of consumer brands. In his earlier tenure with Revlon, Pergola was president of Norcliff-Thayer (Tums, Oxy-5) OTC and personal care subsidiary, which was sold to Beecham in 1985 to help pay down the debt from Ron Perelman's leveraged buyout. Pergola stayed on as top exec of the Norcliff-Thayer operation through the merger into Beecham. In 1988, Pergola became president of Beecham Products USA. In that capacity he helped fold the Norcliff-Thayer operations into Beecham's consumer business (Aqua-Fresh, Massengill, N'Ice, Sucrets) in Pittsburgh. Pergola's assignment at Beecham prior to his departure was to integrate SmithKline's consumer business with Beecham's in the months following that merger last year. Beecham's $700 mil. consumer brands operation is over three times the size of the Norcliff Thayer business he headed two years ago. Harvey Schwartz has been acting as top exec of the Beauty Care Division since he was brought out of retirement in January to run the operation until a replacement was found. Schwartz will stay on board with Revlon through Pergola's transition period. Reporting to Pergola will be VP-sales Bud Odell, who retired last year from P&G's Rich-Vicks as VP-sales. Also under Pergola will be former Revlon exec Peter Beatus as VP-marketing, and VP-controller Stanley Hersh.

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