Former Coca-Cola exec named as Revlon's new CEO

NEW YORK - As expected, struggling cosmetics giant Revlon Inc. named former Coca-Cola Co. executive Jack Stahl as its president and chief executive.<br> <br> The appointment, announced Tuesday, follows Revlon&#39;s announcement on Friday that Jeffrey M. Nugent, who held that position for two years, had left the company.<br> <br> Nugent had been spearheading a turnaround at the company with major cost-cutting moves, while developing new product lines. But the company, the maker of Flex shampoo and Almay makeup, still struggled with declining sales and earnings.<br> <br> In a statement released Tuesday, Revlon chairman Ron Perelman referred to Stahl, who left last year as president and chief operating officer of Atlanta-based Coca-Cola amid a management restructuring, as a &#34;world-class executive with extensive experience in marketing, operations and finance.&#34;<br> <br> &#34;As president and chief operating officer at Coca-Cola, he displayed leadership qualities and a mastery of business disciplines that are essential to global success,&#34; Perelman said. &#34;His breadth of experience in leveraging brand equity and launching new product innovations will serve Revlon superbly.&#34;<br> <br> Stahl, 48, began his career with Coca-Cola in 1979. He helped lead and manage the public offering of Coca-Cola Enterprises, the largest Coca-Cola bottler in the world, in 1986. Stahl became the youngest chief financial officer in the history of Coca-Cola in 1988 at the age of 36. In 1994, as senior vice president and group president, North America, Stahl assumed the leadership of Coke&#39;s largest business group.<br> <br> With Stahl at the helm, Coca-Cola North America experienced triple average annual growth, increased market share from 40 percent to 45 percent and increased operating income by 14 percent annually over the six-year period.<br> <br> From 2000 to 2001, Stahl served as president and chief operating officer of Coca-Cola. He helped to define a broader beverage portfolio strategy for Coca-Cola and implemented a decentralized management structure. Stahl also took the lead in the formation of a ready-to-drink tea and coffee operating joint venture with Nestle and other major marketing initiatives with global partners.<br> <br> Shares of Revlon were up more than 4 percent, or 17 cents, to $3.99 in morning trading on the New York Stock Exchange. <br> <br>