Eugene Melnyk Acquires Fusion Brands Inc. and Fusion Brands International
Fusion Brands Inc. announced today the retirement of Randi Shinder who has served as the company's chief executive officer for the past eight years.
Shinder's retirement also includes a decision to sell her remaining equity in the company. Majority shareholder, Eugene Melnyk, has agreed to acquire Shinder's remaining stake in the company for an undisclosed amount, making him the sole owner of Fusion Brands Inc. and Fusion Brands International. Mr. Melnyk acquired a 55% interest in Fusion Brands Inc. and Fusion Brands International in August 2006. Fusion Brands is responsible for the research and development, manufacturing, sales and marketing of the FusionBeauty(R) and CLEAN(R) product lines.
The company also announced it is in the process of appointing a new chief executive officer and expects to make an imminent announcement on Shinder's successor.
"After eight memorable years as founder and CEO of Fusion Brands Inc., I have decided to sell my remaining equity and take a well deserved break to spend more time with my family," said Shinder. "This was a deeply personal decision that took months of contemplation. One of the hardest aspects of my decision was knowing I will be leaving a great team at Fusion Brands, as well as so many supportive industry colleagues that have been integral to my success."
"Randi is an exceptional entrepreneur who took Fusion Brands from a concept and in less than a decade transformed it into an industry leader," said Melnyk. "On behalf of the entire team at Fusions Brands, I want to thank Randi for her leadership and congratulate her on the many corporate achievements and industry awards that are a true reflection of her personal drive, determination and creativity."
Since creating the award winning and celebrity favorite LipFusion(R) Micro-Injected Collagen Lip Plump in 2005, FusionBeauty(R) continues to build on a strong foundation of innovation and advanced science. FusionBeauty(R) fuses breakthrough advances in dermatology, cosmetics and biological anti-aging sciences. The company's diverse and powerfully branded product line also includes LashFusion(R), LiftFusion(R), GlowFusion(R) and PureFusion(R) and is available in over 40 countries worldwide. The effectiveness, innovation, and broad consumer appeal of FusionBeauty(R) products has earned the company various industry honors including CEW Awards, the Good Housekeeping Seal and support from a long list of celebrities. For more information, please visit http://www.fusionbeauty.com.
CLEAN(R) Original Perfume was successfully launched in 2003 and quickly became the number one selling independent scent. CLEAN is the original fragrance line with a soapy-shower fresh scent that has a unique fragrance reminiscent of pure soap. With impressive sales growth and widening distribution, the CLEAN line has expanded to include bath and body products for men and women as well as home fragrance line. For more information, please visit http://www.cleanperfume.com.