Yesterday, Neela Montgomery has stepped down as CEO of Orveon after just over a year in the role, with no successor named yet. Montgomery joined the beauty company in January 2023, taking the reins of Orveon, which encompasses renowned brands such as Laura Mercier and Bare Minerals.
In addition to her position as CEO, she also served on the company’s board of directors. Prior to joining Orveon, Montgomery had an extensive career at CVS Health and held various leadership roles at Crate & Barrel Holdings, Otto Group, and Tesco plc.
Orveon confirmed Montgomery’s departure, stating that she was stepping down to pursue leadership opportunities closer to her family. The company expressed appreciation for her contributions, highlighting the progress made during her tenure. The Orveon executive team will continue to build on that momentum as the board searches for a new CEO.
This leadership change follows the departure of Pascal Houdayer, who left his position as CEO in November 2023. Houdayer had been brought on in 2021 to lead Orveon after Advent International’s acquisition of BareMinerals, Laura Mercier, and Buxom from Shiseido Americas for $700 million. Before stepping down, Houdayer shared that Orveon was actively exploring acquisitions, particularly in the skincare sector, with deals expected to close by the first quarter of 2024.
It is reported that Orveon is committed to integrity, co-creation, and cultivating a sustainable culture. The company’s portfolio includes high-end cosmetics brands such as BareMinerals, Laura Mercier, and Buxom. According to media reports, Orveon’s sales for 2024 reached $600 million.
