Physicians Formula’s CFO ResignsWednesday, December 14, 2011
Physicians Formula Holdings, Inc. late Wednesday announced that Jeff Berry has resigned his position as chief financial officer.
Berry will depart effective Jan. 13 to pursue other professional interests, said the Azuza skin care and cosmetics company, which will immediately begin a search for his replacement. Berry’s plans were not announced.
Berry was a member of Physicians Formula’s board of directors from 2007 to 2009, but stepped down to serve as CFO in order to help “restore the company to financial health," according to Chief Executive Ingrid Jackel.
“After almost three years of working together, we are now well-positioned for attractive growth and profitability in 2012, and it is now time for Jeff to return to his original career path,” said Jackel in a statement.
Berry was treasurer and head of strategy and business development for Del Monte Foods until June 2008, when he resigned to become an advisor to private equity firms in the food and personal care industries. Prior to Del Monte, he was a management consultant with McKinsey and Co. and earlier Bain and Co. He has a M.B.A. from the Harvard Business School.
Shares earlier closed up 7 cents, or 2.3 percent, to $3.12 on the Nasdaq.