Yahoo Lifestyle Ron Gee Departs Shiseido Americas
Updated 5:20 p.m. ET April 15
Following a CEO handover, more executive changes are afoot at Shiseido.
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Ron Gee has departed his role as chief executive officer, Shiseido Americas and global M&A leader, the company said Tuesday. Alberto Noe has been appointed interim CEO, Americas in addition to his current responsibilities as CEO, EMEA.
Noe has worked at Shiseido EMEA for more than a decade, beginning as CEO and president, Italy. Prior to that, he was general manager, Lancôme Italy and also had stints at Chanel and LVMH.
Shiseido has been struggling, with operating profit tanking 73.1 percent in 2024. The Americas have underperformed since the second quarter of 2024. For the year as a whole, the region’s net sales were down 7 percent, while EMEA was up 8 percent. The Americas’ core operating profit slid 11 percent.
Drunk Elephant, which sits within the Americas portfolio, saw net sales tumble 25 percent in 2024.
Shiseido acquired the skin care brand in 2019 for $845 million in a move to become a bigger player with a more global footprint. At the time, Drunk Elephant’s sales were reported to be close to $100 million, but more recently it has seen a significant slowdown in demand and has been marred by consumer criticism online.
In November, Drunk Elephant issued a voluntary recall in the U.S. for a small number of its Beste No. 9 Jelly Cleanser, Protini Polypeptide Cream and Lala Retro Whipped Cream “due to an isolated ingredient mix-up between preservatives and surfactants during production.”
Nars, which celebrated its 30th anniversary and also sits under the Americas division, was flat.
WWD understands there were also ongoing supply chain issues across multiple brands affecting bestsellers.
Other brands in the Americas portfolio include Tory Burch Beauty.
In addition to the Americas struggling, there are troubles abroad, too. China’s economic growth continued to decelerate and the country’s duty-free retail market Hainan Island faced ongoing challenges.
As it pertains to Gee’s resignation, sources told WWD that chairman and CEO Masahiko Uotani retiring at the end of December and handing the reins to his handpicked successor Kentaro Fujiwara likely played a role.
“Gee was Uotani’s guy,” one industry source told WWD.
Gee, a chemical engineer by training who pivoted to finance, took the top job at Shiseido Americas in July 2021, having previously served as Shiseido Americas’ chief financial officer since 2016 and as interim CEO, Americas from 2020 when Marc Rey resigned.
During his tenure, Gee oversaw the acquisition of DDG Skincare Holdings, the owner of Dr. Dennis Gross Skincare. WWD also reported that it was at one point close to purchasing skin care brand Osea, but this did not materialize.
In late November, Shiseido announced a new action plan for 2025 and 2026 to focus its efforts on key brands and develop a cohesive operating model across brands and regions. The brands concerned are Shiseido, Clé de Peau Beauté and Nars, described as the “Core 3,” and Anessa, Narciso Rodriguez, Issey Miyake, Elixir and Drunk Elephant, grouped together as “Next 5.”
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