Effective September 6, Marc Rey will resign as President & CEO of Shiseido Americas and Chief Growth Officer, Shiseido Group. Ron Gee, Chief Financial Officer of Shiseido Americas and Global M&A Leader, has been named Interim CEO of Shiseido Americas.

Results for the first half of the fiscal year, released August 6, saw net sales fall 24.5 percent year on year, affected by COVID-19 in all regions and lockdowns of markets during. Like-for-like growth was down 24.7 percent. When converted into yen, sales decreased 26 percent.

Marc joined Shiseido Americas in 2015 to lead the Americas regional organization including the businesses in the U.S., Canada and Latin America, and manage the global brands based in the U.S., including bareMinerals, NARS and Laura Mercier. He was appointed Chief Growth Officer in January 2019 as part of the company’s future strategy to realize sustainable growth. During his tenure, Marc led the company’s acquisitions of Drunk Elephant, Laura Mercier, the worldwide beauty license for Tory Burch, and technology companies MATCHCo and Giaran. In 2018, CEW awarded Marc with its inaugural MEN-tor award for his role in supporting women in leadership positions, making him the first male presented with an award at CEW’s Achiever Awards ceremony.

Ron, who will retain his CFO responsibilities during this interim period, has served as CFO of Shiseido Americas since April 2016 and as Global M&A Leader for Shiseido Company, Limited since January 2019.