Neela Montgomery Steps Down as CEO of Orveon

Orveon’s chief executive officer Neela Montgomery has departed the company after a little more than a year in the top job and a successor has yet to be named, WWD has learned.

Montgomery joined the company, whose brands include Laura Mercier and Bare Minerals, as CEO in January. She also joined Orveon’s board of directors. The executive hailed from CVS Health and also previously held roles at Crate & Barrel Holdings, Otto Group and Tesco plc.

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An Orveon spokesperson confirmed the departure in a statement: “Neela Montgomery has stepped down as CEO of Orveon to focus on leadership roles closer to her family. We are grateful for the progress the company made under her leadership, and the Orveon executive team will continue to advance this progress as the board conducts a search for a successor.”

In November 2023, WWD reported that Pascal Houdayer had left his position as CEO of Orveon. The executive was brought on to lead the then-newly formed Orveon in the summer of 2021, after its parent company, Advent International, acquired BareMinerals, Laura Mercier and Buxom from Shiseido Americas for $700 million.

Prior to his departure, Houdayer told WWD that Orveon was looking into acquisitions, and was in “forward processes with a couple of brands, and some of them are to close their process by the end of [first-quarter] 2024,” with a focus on skin care.

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