Revlon

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named David L. Kennedy president and chief executive, replacing Jack Stahl, who is leaving the cosmetics maker to pursue other interests.

Kennedy is currently Revlon's chief financial officer and treasurer. His appointment is effective immediately, but Stahl has agreed to stay on as an adviser for 30 days to help with the transition.

Shares of Revlon slipped 6 cents to $1.37.

Revlon said Kennedy, 59, joined the company in 2002 as executive vice president and president of Revlon International. Earlier this year, he was appointed CFO of the company and its Revlon Consumer Products unit.