Pascal Houdayer is departing Orevon as chief executive officer, WWD has learned.
The executive was brought on to lead the then newly formed Orveon in the summer of 2021, after its parent company, Advent International, acquired BareMinerals, Laura Mercier and Buxom from Shiseido Americas for $700 million.
Those brands now sit under Orveon and, until recently, Houdayer was actively searching for two skin care brands to add to its roster.
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“We are seeing actually in Q4 an acceleration of talks. It was a gloomy moment to try to buy brands in 2023,” he told WWD earlier this month. “We are in our forward processes with a couple of brands and some of them are to close their process by the end of Q1 2024.”
As of Thursday, Houdayer’s profile could not be found on the leadership page of Orveon’s website, while other executives, including the chief transformation officer and chief revenue officer, were still listed.
It’s understood that a successor has yet to be appointed.
An Orveon spokesperson confirmed the news: “Pascal stepped down as CEO last week. While the board of directors searches for a successor, the office of the CEO is overseeing Orveon’s strategic initiatives and day-to-day operations to ensure this transition is seamless.”
A spokesperson for Advent declined to comment. WWD also reached out to Houdayer.