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Dive Brief:
Dive Insight:
The appointment of Beck as CEO comes as BeautyHealth faces challenges — related to both its finances and some of its products.
The company, which has brands Hydrafacial, SkinStylus and Keravive, experienced problems last year over issues with its first two iterations of Syndeo devices being used by hydrafacialists to treat customers with various skin conditions.
A securities class action lawsuit was brought against BeautyHealth and its executives, which stemmed from the company’s disappointing Q3 results and disclosed “mistakes” with its Syndeo systems, specifically mentioning its 1.0 and 2.0 devices. BeautyHealth in its third-quarter earnings report said it incurred a $63.1 million restructuring charge related to the Syndeo provider experience issues.
Marla Beck
Courtesy of BeautyHealth
During the company’s Q4 earnings call on Tuesday Beck addressed the Syndeo machine problem to investors. “Much of the recent focus has been on executing the Syndeo program announced last quarter, ensuring all Syndeos globally meet our latest 3.0 standard and that we protect our valuable provider relationship,” Beck said. “The early feedback regarding Syndeo 3.0 is positive. While we still hear some concerns regarding the 3.0 system, the level is consistent with industry standards and we are addressing issues that come up quickly. We will continue to prioritize operational excellence and always with the provider in mind.”
In addition to Beck, BeautyHealth also recently appointed a new finance chief. In August the company brought on Michael Monahan, Casper’s former CFO, to serve as its chief financial officer.
via https://www.aiupnow.com
Howard Ruben, Khareem Sudlow
