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Consumer products company, Helen of Troy Limited (HELE - Snapshot Report), has announced the appointment of Mr. Julien R. Mininberg, as Chief Executive Officer (CEO) and President of the company effective Mar 2014. The company has also announced the appointment of Timothy F. Meeker, currently functioning as an independent director of the company, as the Chairman of the Board.

Mininberg will succeed the current CEO and Chairman Gerald J. Rubin. Rubin will resign from the Board of Directors, effective immediately, and join River Oaks Properties Ltd. as CEO.

Thomas J. Benson, currently Senior Vice President and Chief Financial Officer, will function as the Interim CEO until Mininberg assumes his new role

Mininberg, aged 49 with a Yale MBA, has been associated with the company since 2006 and therefore has an in-depth understanding of the business segments. Having served as the president and CEO of Helen’s Kaz and PUR’s division for three years, he also has the requisite leadership qualities. In his illustrious career, Mininberg has also served 15 years in general management and marketing at Procter & Gamble Company (PG - Analyst Report).

Mininberg is expected to employ better strategies and take the company to newer heights in the changing demand scenario. Helen of Troy estimates a charge of approximately 50 cents per share in the fourth quarter of fiscal 2014 due to payments to be made under Rubin’s employment agreement. However, the company expects to realize net savings of 92 cents per share reflecting the new CEO compensation in fiscal year 2015.

On Jan 10, 2013, Helen of Troy posted better-than-expected third-quarter fiscal 2014 earnings of $1.16 per share, which beat the Zacks Consensus Estimate of $1.09 by 6.4% as unfavorable foreign exchange translation was more than offset by higher revenues and operating income. However, earnings were lower than year-ago results by 1.6% due to higher cost of sales.

Other Stocks to Consider

Currently, Helen of Troy has a Zacks Rank #3 (Hold). A better-ranked stock in the same industry that looks attractive at the current levels is Nu Skin Enterprises Inc. (NUS - Snapshot Report) carrying a Zacks Rank #1 (Strong Buy). Another consumer staple stock worth considering is The Men's Wearhouse, Inc. (MW - Snapshot Report) carrying a Zacks Rank #2 (Buy).

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