Consumer products company,
Helen of Troy Limited
), has announced the appointment of Mr. Julien R. Mininberg, as
Chief Executive Officer (CEO) and President of the company
effective Mar 2014. The company has also announced the
appointment of Timothy F. Meeker, currently functioning as an
independent director of the company, as the Chairman of the
Mininberg will succeed the current CEO and Chairman Gerald J.
Rubin. Rubin will resign from the Board of Directors, effective
immediately, and join River Oaks Properties Ltd. as CEO.
Thomas J. Benson, currently Senior Vice President and Chief
Financial Officer, will function as the Interim CEO until
Mininberg assumes his new role
Mininberg, aged 49 with a Yale MBA, has been associated with
the company since 2006 and therefore has an in-depth
understanding of the business segments. Having served as the
president and CEO of Helen's Kaz and PUR's division for three
years, he also has the requisite leadership qualities. In his
illustrious career, Mininberg has also served 15 years in general
management and marketing at
Procter & Gamble Company
Mininberg is expected to employ better strategies and take the
company to newer heights in the changing demand scenario. Helen
of Troy estimates a charge of approximately 50 cents per share in
the fourth quarter of fiscal 2014 due to payments to be made
under Rubin's employment agreement. However, the company expects
to realize net savings of 92 cents per share reflecting the new
CEO compensation in fiscal year 2015.
On Jan 10, 2013, Helen of Troy posted better-than-expected
third-quarter fiscal 2014 earnings of $1.16 per share, which beat
the Zacks Consensus Estimate of $1.09 by 6.4% as unfavorable
foreign exchange translation was more than offset by higher
revenues and operating income. However, earnings were lower than
year-ago results by 1.6% due to higher cost of sales.
Other Stocks to Consider
Currently, Helen of Troy has a Zacks Rank #3 (Hold). A
better-ranked stock in the same industry that looks attractive at
the current levels is
Nu Skin Enterprises Inc.
) carrying a Zacks Rank #1 (Strong Buy). Another consumer staple
stock worth considering is
The Men's Wearhouse, Inc.
) carrying a Zacks Rank #2 (Buy).
HELEN OF TROY (HELE): Free Stock Analysis
MENS WEARHOUSE (MW): Free Stock Analysis
NU SKIN ENTERP (NUS): Free Stock Analysis
PROCTER & GAMBL (PG): Free Stock Analysis
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