LOS ANGELES — Milani Cosmetics has named Grace Ray as chief executive officer, replacing current interim CEO Michelle Taylor, who will move into the role of chairman of the board at the company.

Taylor replaces Dennis O’Brien, partner at Gryphon Investors, who served as interim chairman after Gryphon acquired a majority stake in Milani in June of this year.

Ray most recently served as CEO of hair care company Living Proof, where she oversaw and executed growth in brand awareness, sales and profitability. She played an integral role in Living Proof’s sale to Unilever in 2016. She has also held senior leadership positions at Smashbox Cosmetics and L’Oréal.

“We are delighted to have Grace join Milani Cosmetics as CEO. She brings extraordinary experience to the team and has a successful track record of stewarding private companies towards achieving their growth potential and transforming them into highly desirable brands,” said Taylor. “Her background with both cosmetics and beauty businesses gives her an important knowledge base of the levers required for growth in a modern makeup brand.”

Ray said: “I am thrilled to have the opportunity to guide this fast-growing indie brand and build upon its already proven successes and reputation for creating high-quality makeup for discerning multicultural consumers. Milani is smartly positioned in the fast-growing ‘masstige’ category where we can offer high quality and good value without having to compromise on either. This is exactly what consumers want today. It is important that we continue to introduce new innovations, enforce our strong retailer relationships, invest in consumer pull and grow our international markets.”