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Philosophy plans to build its future with a new architect at the helm.
The feel-good beauty brand, which was acquired by the private equity firm Carlyle Group in January for an estimated $450 million, has named E. Michael McNamara chief executive officer. McNamara joins Philosophy from Neutrogena Corp., where he most recently was global president. Effective May 15, he will succeed Philosophy founder, Cristina Carlino, who will become executive chairman.
McNamara, who referred to Philosophy as "an inspirational brand and company," said the Phoenix beauty firm was ripe for expansion into new categories and geographies. Philosophy, which is sold in Sephora, on QVC and in a number of department stores, reaped net wholesale volume of roughly...