Pantry Pride Installs New Team at Revlon

Culminating its bitter three-month battle to acquire Revlon, Pantry Pride on Tuesday promptly installed its own management team at the New York-based beauty- products company.

The move marked the end of M. C. Bergerac’s decade-plus reign as Revlon’s chairman, president and chief executive.

The executive changes, which take effect immediately, were announced as part of an agreement between Fort Lauderdale, Fla.-based Pantry Pride and Revlon for an orderly transition of control.

Late last week, Pantry Pride emerged the victor when the Delaware Supreme Court blocked Revlon’s plans to be acquired by Forstmann, Little & Co., an investment firm.

With the announcement of Bergerac’s resignation, the following executive appointments at Revlon were made:

Ronald O. Perelman, chairman and chief executive of Pantry Pride, was named chairman and chief executive.

Sol Levine was elected president. He was formerly chairman of Revlon International Corp. and an executive vice president of Revlon.

Howard Gittis, vice chairman of Pantry Pride, was named vice chairman. He also is vice chairman of MacAndrews & Forbes Holdings, which controls Pantry Pride.

Bruce Slovin, president of Pantry Pride, was named chairman of the executive committee. He also is president of MacAndrews & Forbes.