Kansas City-based Beauty Brands LLC has named a new chief executive.
Caryn Lerner, who had been an operating partner of Palladin Consumer Retail Partners in Boston, succeeds Lyn Kirby, who has led Beauty Brands since early 2014. Lerner has nearly 40 years of retail experience.
Kirby remains as chairwoman of the company’s board of directors. She joined the company after it was acquired by a California private equity firm from its founder Bob Bernstein.
“This management transition to a CEO resident in Kansas City has been our ambition since the time of our investment in Beauty Brands,” Kirby said in the company’s announcement.
Kirby has run the company while maintaining residency in Florida, a Beauty Brands spokesman said. Lerner is a resident of Connecticut but is moving to the Kansas City area, he said.
Kirby also said Lerner has the experience to lead Beauty Brands “through its growth phase.” Beauty Brands has 61 locations, including 10 in the Kansas City area.
At Palladin, Lerner had sought out investment opportunities for the firm, which focuses on luxury, retail and consumer products. It included handling due diligence work ahead of investing. She also has served as CEO of other businesses.
Bernstein sold control of the company to a private equity firm with plans to expand its footprint to a national one alongside rivals like Ulta Beauty and Sephora. The private equity firm has not been identified publicly.
Kirby invested in the acquisition as well and will remain a key investor, the announcement said.