Fusion Brands new ownership
This article was originally published in The Rose Sheet
Executive Summary
Beauty and fragrance firm Fusion Brands announces retirement of CEO Randi Shinder, who is selling her stake in the company to its majority shareholder, Canadian billionaire Eugene Melnyk, now the sole owner. Fusion Brands says it is in the process of appointing Shinder's successor and will make an announcement soon. "After eight memorable years as founder and CEO of Fusion Brands, Inc., I have decided to sell my remaining equity and take a well deserved break to spend more time with my family," Shinder states May 8. "I will be leaving a great team at Fusion Brands, as well as so many supportive industry colleagues that have been integral to my success." Melnyk acquired a 55% stake in the company in August 2006. He is a founder of specialty pharmaceutical company Biovail Corporation. Fusion Brands makes and markets FusionBeauty skin care and CLEAN perfume
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