On the Move: Tula Skincare CEO Steps Down, Procter & Gamble Takes Over
Tula's Leading Figure Resigns from Position
In a sudden turn of events, Tula Skincare's CEO, Savannah Sachs, officially announced her departure from the position, effective August 22, as per her LinkedIn post this week.
Colin Walsh, Procter & Gamble's CEO of Specialty Beauty, has been appointed as the interim CEO for Tula, looking after the skincare brand until a permanent successor is chosen.
Sachs joined Tula as its CEO in 2018 and has now decided to pursue new ventures, as stated in the LinkedIn post. Her tenure at Tula spanned over five influential years, but under a different ownership structure than when she first took on the role.
Alex Keith, P&G Beauty CEO, shared on LinkedIn, "It's rare that multiple acquired brands join a business at the same time, and it's been a pleasure to see how all of our CEOs collaborate, learn from, and support each other. With this new transition, this collaboration becomes even more important."
Sachs' notable career spans several leadership roles at Birchbox, where she served as COO and U.K. Managing Director. Replacing Sachs as Tula's interim CEO is Colin Walsh, who also holds the CEO position for hair care brand Ouai. Walsh previously held the CEO role at Deva Curl.
P&G acquired Tula, along with Farmacy Beauty and Ouai, in 2022. The company's 2022 acquisitions totaled approximately $1.4 billion, primarily investing in Tula, Farmacy Beauty and Ouai. Another acquisition of hair care brand Mielle Organics took place in January, with P&G confirming that it would continue to run the brand under its current CEO and COO, Monique and Melvin Rodriguez, respectively.
Tula is primarily a digitally native brand with a strong focus on direct-to-consumer sales. Although it sells products through wholesale partners such as Sephora, Ulta Beauty, Nordstrom, and Neiman Marcus in the U.S., its primary identity is derived from its digital presence.
Despite extensive search results, information about the new interim CEO or other acquisitions by Procter & Gamble alongside Tula in 2022 prove limited. For more detailed insights into Tula Skincare's leadership or acquisition history, further research is recommended.
- The departure of Tula Skincare's CEO, Savannah Sachs, has opened a vacancy in the business world, as Procter & Gamble has taken over the skincare brand.
- In the realm of fashion-and-beauty business, Procter & Gamble has made significant strides, not just by acquiring Tula Skincare, but also Farmacy Beauty and Ouai in 2022.
- The AI-driven finance sector could potentially benefit from learning about the collaboration between P&G's beauty CEOs, as seen in the transition of Tula Skincare's leadership, with Colin Walsh stepping in as the interim CEO.
