The US media and lifestyle group PLBY Group Inc. has appointed Marc Crossman as Chief Operating Officer (COO) and Chief Financial Officer (CFO). The current chief financial officer, Lance Barton, will initially support the company as a “strategic advisor” to ensure a smooth transition, the parent company of the Playboy brand announced on Wednesday.
Crossman comes from investment house Rizvi Traverse Management, the major shareholder of PLBY Group. He has many years of experience in the financial and consumer goods industry. Among other things, he worked in the clothing industry as CFO and later as CEO of the denim supplier Joe’s Jeans Inc.
At the PLBY Group, which he had previously supported as a consultant, Crossman is now to push ahead with the ongoing austerity program. “I still see great opportunities to streamline operations and ensure operational discipline across the organization,” he said in a statement.
“I believe that Marc will be able to realize additional cost reductions beyond our previous plans,” said Ben Kohn, CEO of PLBY Group. The aim of the group is to implement a less capital-intensive business model with leaner structures, according to Kohn.