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This article was originally published in The Rose Sheet

Executive Summary

Physicians Formula CFO resigns: Company appoints Jeff Berry interim CFO in place of Joseph Jaeger, who is resigning for family reasons, according to May 15 release. While acting as CFO, Berry will step down from the board of directors on which he has served since October 2007 as a member of the Audit Committee and chair of the Compensation Committee and the Corporate Governance and Nominating Committee. Previously Berry was treasurer and head of strategy and business development for Del Monte Foods, Physicians Formula notes. Announcement of changes comes four days after firm posted first-quarter sales of $20.2 mil., compared with $42.7 mil. in the prior-year period, due to significant retailer destocking (1"The Rose Sheet" May 18, 2009, p. 12). CEO and Chairwoman Ingrid Jackel states: "I have worked with Jeff over the last two years in his capacity as a board member, and he will bring a high level of strategic focus and financial acumen to our company as we navigate through these challenging economic times.
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