The unfortunate loss of the company's dynamic chief executive officer, Dunnan Edell, earlier this year caused it to operate without a full-time CEO in the highly competitive Health and Beauty Aids Industry during the last eight months. Without the energy, passion and creativity that Dunnan brought to CCA Industries and its successful brands, the company lost important momentum in 2013, it said. As a result the company's performance, in-store merchandising position and turnover were not nearly on par with its successful efforts over the past 25 years.
Kornhauser, 58, has over the past 30 years honed his well-developed management skills, strong entrepreneurial drive, and his keen sense of opportunities in the health and beauty aids Industry at companies with very similar problem-solution brands to CCA Industries: Chattem, Incorporated, Combe Incorporated and FGX International. He was instrumental in spearheading the marketing and advertising efforts which helped drive significant, and profitable growth for such brands as: Gold Bond skin care, Icy Hot topical analgesics, Selsun-Blue dandruff shampoo, Sea Bond denture care, Odor-Eaters foot care, and even the iconic Foster Grant.
The company reported total revenues for the third quarter ended Aug. 31, 2013 of $9.7 million and a net loss of $792,892. For the same period of 2012, the company had revenues of $14.0 million and net income of $428,747. Total revenues for the nine months ended Aug. 31, 2013 were $32.8 million as compared to $42.4 million, for the same period in 2012.