10.12.23
Olaplex Holdings has a new chief executive officer, effective by early 2024—Amanda Baldwin. She will succeed JuE Wong and she will join the Olaplex Board of Directors.
The news puts Olaplex in the headlines again after the brand debuted its campaign aimed at "duping the TikTok dupers" with "Oladupe."
Baldwin is the CEO of Supergoop! and her prior experience includes CMO and senior VP at L Catterton; VP of Dior Beauty Marketing at LVMH; and Clinique's director of marketing at ELC.
Baldwin joined Supergoop! as president of the suncare brand in 2016, leading it through a period of significant domestic growth and international expansion. She told CEW Beauty News that she believes in thinking digitally first, communicating with consumers by educating and inspiring in a fun way—and that it's important for a brand to have a strong mission.
John P. “JP” Bilbrey, the company’s executive chair of the board, will serve as interim CEO at Olaplex during the transition period.
Baldwin says, “Olaplex stands apart as a category creator redefining what is possible through the combination of beauty and science. I see tremendous opportunity to help the brand and the business reach their full potential by further deepening engagement with stylists, retailers and consumers through breakthrough product innovation, sharp storytelling and a dynamic global omnichannel strategy."
Bilbrey comments, “Amanda is a leader in growing prestige beauty brands and we are delighted to welcome her...she is an effective and creative brand builder who deeply understands consumer insights and analytics. Her valuable mix of strengths across marketing, product development and execution make her the ideal person to position Olaplex for long-term success."
JuE Wong Is Moving On From Olaplex
JuE Wong joined Olaplex in 2020 when the company was bought by private equity firm Advent International. She has a track record of propelling emerging brands to the next level while globalizing established brands. MarketWatch reports that she is leaving Olaplex next week.A board member at CEW, Wong's experience includes PepsiCo, Murad Inc., NV Perricone, ZO Skin Health by Dr. Obagi, StriVectin, Elizabeth Arden, Moroccanoil—and more.
Bilbrey says, “On behalf of the entire board, I would like to thank JuE for her contributions...she has been an industry leader and committed champion of the Olaplex brand over the past three years—creating market interest in the wholly new bond-building space within the prestige beauty category while guiding the company through major milestones including navigating our initial public offering and scaling Olaplex to an international brand."
Wong comments, “It has been an honor to lead Olaplex through so many significant moments...my time with the company has been an incredible ride, and I appreciate the opportunity to help serve our team, partners, creators and professional stylists—all of whom have played a special role in our success. I can’t wait to see all that Olaplex accomplishes in the years to come and will remain a loyal and committed champion of the brand.”
In addition to announcing the leadership transition, Olaplex today reiterated guidance for fiscal year 2023 on net sales, adjusted net income, and adjusted EBITDA, as provided by August 8th when Olaplex announced that shares plunged.
Who invented Olaplex?
Eric Pressly was part of the Olaplex team that worked on the brand's proprietary Bis-amino technology—and now he created a new haircare brand, epres.Olaplex says no other bond-building product can compare to its proprietary formula. "Our Bis-amino technology remains the most effective technology to repair disulfide bonds in the hair," a spokesperson said.
