Rubin Steps Down at Helen of Troy
EL PASO, Texas-Gerald Rubin, chairman, president and CEO of Helen of Troy and its co-founder, has left the company to become CEO of River Oaks Properties, a commercial real-estate company.
The 70-year-old Rubin has also resigned from Helen of Troy's board of directors. A company statement also said the board has appointed Julien Mininberg, CEO of the company's health-care/home environment segment, to succeed Rubin as CEO, effective March 1. Tom Benson, senior vice president and chief financial officer, will serve as interim CEO until Mininberg takes the post.
Helen of Troy also said it is separating the roles of chairman and CEO. Timothy Meeker, an independent director, has been named chairman. The board intends to nominate Mininberg as a director, and he will stand for election to the board at the company's 2014 annual meeting.
Rubin co-founded Helen of Troy with his father, Louis, in 1968. Gary Abromovitz, the company's deputy chairman, said, "Jerry built this company from the ground up, from a family business to a multinational organization with a diverse portfolio of businesses and revenues of nearly $1.3 billion in fiscal year 2013."
Citing the "talented team of nearly 1,500 employees around the world," Rubin said, "Together we have created a well-respected, world-class global consumer products company with a market capitalization of nearly $1.7 billion, with strong momentum for continued success in serving our consumers and retail partners."