Latest news with #Renfrew
Miami Herald
3 days ago
- Business
- Miami Herald
Bankrupt beauty brand to return after $1 billion collapse
As a 31-year-old, I'm starting to enter that grey area when it comes to skincare. The products aimed at my age group either promise to preserve a youthful glow or boldly market anti-aging claims that don't always land. And as I glance ahead to my mid-30s and beyond, I'm noticing how few brands really speak to women in this phase of life. Related: The Birkin and LL Bean mashup you didn't know you needed That's why one particular comeback caught my eye. A beauty brand that once held a $1 billion valuation - before it abruptly collapsed into bankruptcy - is making a return this summer. But it won't be the same brand you remember. Its founder is bringing it back with a bold new focus: women 35 and up. And this time, the mission feels personal. For women like me, caught between skincare marketing aimed at 20-somethings and older demographics, that mission is worth watching. According to Beauty Independent, the company formerly known as Beautycounter will officially relaunch on June 25 - this time, simply as Counter. Founder and CEO Gregg Renfrew, who bought the brand's assets out of bankruptcy last year, is rolling out a soft launch this summer, with a bigger public push planned in the fall. "We're going to do it with respect and with a high level of humility," Renfrew said at a recent event. The new Counter lineup will feature about 50 products (down from 245), focused on clean skincare products and makeup. Gone (for now) are the mass retail partnerships with Ulta and Target. Counter is doubling down on direct-to-consumer, with a flagship store in Nantucket and more branded locations planned. It will also revive its community-based selling model, this time branded as "brand partners." Related: Sephora unveils new brand partnership Gen Z will love "As a woman in her fifties, we are largely ignored, yet we have the spending power," Renfrew said. The goal: make Counter the go-to brand for women 35+, a group often overlooked in the beauty industry. But this comeback isn't just about targeting an underserved age group. It's about raising the bar for clean beauty and how beauty brands do business. "We've always talked about making the impossible possible," Renfrew said. "The whole essence of us was going counter to industry norms, counter to how people always do business." That means a renewed focus on transparency and higher standards, especially as "clean beauty" has become a crowded, sometimes murky space. Counter's comeback is about more than a new name and a smaller product lineup. It's about applying the hard lessons learned from Beautycounter's spectacular rise and fall in the beauty industry. Founded in 2013 to lead the clean beauty movement, Beautycounter built a cult following with its "Never List" - an evolving list of banned ingredients linked to health risks. But after private equity giant Carlyle Group acquired the brand for $1 billion in 2021, the business faltered. A controversial compensation shift alienated many sales reps. A deal with Ulta meant to broaden the brand's reach ultimately undercut its core community-driven model. By April 2024, Beautycounter had entered foreclosure. Renfrew's effort to reacquire the brand wasn't just about nostalgia; it was about giving the company a second chance to do things differently. Now, she's betting on a leaner assortment, a sharper audience focus, and a more sustainable retail strategy. And with clean beauty now mainstream, Counter aims to raise the bar. "Our opportunity is to go in and set the standards, educate people on the standards, and hold ourselves accountable," Renfrew said. For an underserved group of beauty consumers, Counter's return might be the shift they've been waiting for. Related: Steve Madden files wild lawsuit against Adidas The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Calgary Herald
4 days ago
- Health
- Calgary Herald
Want to be inspired? Here are four Alberta women being recognized for their life-changing achievements
There's no shortage of women who are helping to shape Alberta's future, including the four who were given awards as part of a Heritage Park program Friday afternoon. Article content The 2025 Women Making History in Alberta Awards recognize extraordinary leadership, innovation and service, thanks to the work of extraordinary Albertans. Article content Article content Article content History Maker in the Making Award: Catriona Le May Doan is CEO of Sport Calgary, as well as being a beloved Olympian and sport inclusion champion. Winning Olympic gold in the 500-metre speedskating event in both the 1998 and 2002 Winter Games, she was the first Canadian female to defend an Olympic gold medal. That led Doan to become a broadcaster, motivational speaker and a leader in the world of sports, particularly in terms of ensuring all children are able to participate. Entrepreneurial and Innovator Award: Dr. Kristina Rinker is a professor at the University of Calgary and co-founder/chief scientific officer at Syantra Inc. As a biomedical innovation leader, she helped develop a groundbreaking breast cancer test that is a non-invasive blood test which detects cancer in early stages. Her accolades include a City of Calgary International Award and Research Impact Award. The Vera Burns Award: Dr. Elaine Joughin is a retired pediatric surgeon and educator, whose work has impacted thousands over the decades and continents. She was the first female pediatric orthopedic surgeon at Alberta Children's Hospital. Her volunteer work has taken her to Thailand, Uganda and Ecuador, where she has mentored surgeons. She continues to influence pediatric care through app development, education and community service. Community Builder Award: Janice McTighe, founder of Renfrew Educational Services, is an advocate for children with disabilities. After seeing a lack of resources for one of her own children, McTighe created a groundbreaking organization to support kids with disabilities. Renfrew has achieved international acclaim and is seen as a model for education excellence when it comes to special needs education. There are now four Renfrew campuses, with another on the way. McTighe's past awards include the Alberta Order of Excellence and a Top 7 Over 70 award. Article content
CBC
5 days ago
- Business
- CBC
Report finds 'financial irregularities' at Renfrew Victoria Hospital
Social Sharing A third-party investigation into Renfrew Victoria Hospital (RVH) and a related not-for-profit, Renfrew Health (RH), has documented a slew of "financial irregularities" and "gaps in governance." The report, prepared by Ministry of Health-appointed supervisor Altaf Stationwala and published on the ministry's website Thursday, found millions of dollars in hospital funds were allocated to executive compensation, much of which went undocumented in salary or public expense disclosures. "This was a case of a hospital using a related entity for the purposes of bypassing rigorous hospital financial practices," Stationwala wrote. The report found RVH had significant financial flexibility but operated at times like it didn't, leading to under-investment in resources for patient care, gaps in security and a lack of investment in updating its governance structure. In several years, any surplus funds over $300,000 were transferred to the not-for-profit Renfrew Health, rather than being spent on patient care. At the same time, Renfrew Health funnelled nearly $3 million in hospital funds to executives despite their having no additional responsibilities. The report found one former CEO received a $1.2-million trust, a $1-million interest-free loan with a $100,000 transitional allowance, and $1.6 million in additional compensation through Renfrew Health. The same former executive charged $170,000 to corporate credit cards, only nine per cent of which was supported by receipts. Not-for-profit a 'superficial structure' "RH was just one piece of a larger puzzle pertaining to a series of irregular transactions and practices involving certain former executives," Stationwala wrote. When Stationwala instructed RVH to assume control of RH to dissolve it and reunify assets, he said he realized the structure was "superficial." "Operationally not a single action was required to support this transition as all activities were already being managed by RVH executives as part of their regular duties," he wrote. "Where activities can be reasonably completed within the mandate of the hospital, it should be questioned whether a related entity is necessary." The report emphasized no current RVH executives were involved in the financial irregularities, and no current board members "were involved in initiating these irregularities." Both RVH and the Renfrew Victoria Hospital Foundation (RVHF) obtained legal advice through a third party when RH was created. The report noted "it cannot be concluded that the directors of either organization breached their fiduciary duty, given they were acting on legal advice." Strong patient care Despite financial irregularities, the report found patient care and operations at RVH were strong. "Staff and physicians demonstrate strong commitment to delivering excellent patient care and ensuring needs of patients and the community are met," the report said. Despite this, Stationwala also noted patient care could have been improved by further investment, rather than allocating funds to executive bonuses. "The ultimate impact unfortunately comes at a loss to the community that could have benefitted from investment of these funds into expanded healthcare services." Stationwala made a series of recommendations, many of which are already complete. RH is being dissolved, new financial auditors have been hired, a whistleblower policy has been implemented for staff concerned about financial irregularities, and a new senior management team is in place, separate from the team that was involved in the RVH/RH financial irregularities.
CTV News
5 days ago
- Business
- CTV News
Investigation into Renfrew, Ont. hospital finds ‘range of financial irregularities'
An investigation into the relationship between Renfrew Victoria Hospital (RVH) and Renfrew Health (RH) concludes there was a 'range of financial irregularities pertaining to the actions' of the former CEO at the hospital in Renfrew, Ont. The report by the Ontario government appointed supervisor found nearly $3 million was spent on executive compensation at the hospital with 'no demonstrated roles or accountabilities' within Renfrew Health and there wasn't a 'strong governance framework.' Supervisor Altaf Stationwala submitted a final report into his investigation into concerns raised about the 'appropriateness of hospital funds' transferred to Renfrew Health, which was established in 2014. Renfrew Health was established in 2014 to support the operations of the Renfrew Victoria Hospital and to advance the goals and objective of the hospital. 'There is a recurring theme of poor business and governance practices that enabled this activity to persist over many years,' Stationwala writes. 'The RH construct was misused from the beginning through the redirection of RVH operating funds and payments to RVH executives. This was increasingly carried out over time with the continued movement of significant RHV operating funds, vacation banks, bonus payouts, and other activities that should have been under purview of the hospital. The Ministry of Health appointed Stationwala in June 2024 to oversee the Renfrew Victoria Hospital, saying 'concerning financial practices' were found during a review of the hospital.. Stationwala says the hospital had 'significant financial flexibility,' but many decisions 'were made internally under the auspice of having limited financial resources.' 'Meanwhile, certain executives were being compensated via RH in addition to RVH compensation and a longstanding former chief executive officer with a tenure of over 30 years received both RH compensation and a range of other financial arrangements including a Supplementary Employee Retirement Plan and an approximately $1 million interest free loan,' the report said. 'There were also concerns regarding such former executive's use of company credit cards. These practices began at RVH as early as 1997 and continued until recently. These practices began at RVH as early as 1997 and continued until recently.' The report says the former CEO of the Renfrew Victoria Hospital received over $1.6 million in compensation on top of their CEO salary, plus $1 million interest free load and $1.3 million SERP retirement plan. Stationwala says other former Renfrew Victoria Hospital executives also received compensation from Renfrew Health in addition to their hospital compensation. 'In total, nearly $3 million over 11 years was spent in executive compensation through RH for RVH executives with no demonstrated roles or accountabilities within RH,' the report says. 'Over time, these compensation practices became the operating norm, continuing even as new executives came on board as this was understood as the way things were done at RVH. Stationwala says a further analysis of Renfrew Health revealed 'it was a superficial structure,' and stated the creation of Renfrew Health 'did not free up' time for hospital executives because 'RVH executives did all of the work or RH.' The investigation also found 'gaps in formalized oversight on medical staff, with Stationwala saying the Renfrew Victoria Hospital 'did not have a strong governance framework.' Stationwala concludes 'the completed puzzle reveals a lack of sound governance and specifically, a lack of standard checks and balances in relation to executive decision making.' 'With nearly $3 million directed into executive compensation alone, notwithstanding legal costs and other misguided spend of public dollars, the ultimate impact unfortunately comes at a loss to the community that could have benefitted from investment of these funds into expanded healthcare services,' the report says. In November, Ontario Provincial Police launched an investigation into the Renfrew Victoria Hospital, but provided no other details. Stationwala's report does not list any names of hospital executives. Stationwala says no current active members of the Renfrew Victoria Hospital are part of the irregularities. The report recommends keeping the current board in place, appoint new auditors to oversee the hospital and institute a whistleblower policy supported by a third-party organization.
CTV News
27-05-2025
- General
- CTV News
Ottawa driver, 76, charged with careless driving after crash with injuries
An Ottawa driver is facing charges after a two-vehicle crash north of Renfrew Monday afternoon. Ontario Provincial Police and paramedics responded to a collision at the intersection of Storyland and Chenaux roads shortly before 2 p.m. Paramedics transported both drivers to hospital for treatment with non-life threatening injuries, police say. A 76-year-old was charged under the Highway Traffic Act with careless driving. Both vehicles were towed from the scene.
