Physicians Formula CFO to retire

AZUSA, Calif. Physicians Formula has announced the resignation of Joseph Jaeger as CFO due to family reasons. Jeff Berry will succeed him as the interim CFO, effective May 29.

"Joe has been a valuable member of the Physicians Formula management team for the last five years and we appreciate his service to the company," stated Ingrid Jackel, chairwoman and CEO.  "We welcome Jeff as the interim CFO given his proven strategic and financial skills. I have worked with Jeff over the last two years in his capacity as a board member, and he will bring a high level of strategic focus and financial acumen to our company as we navigate through these challenging economic times."

Berry has been a member of the board since October 2007. He is currently a member of the audit committee, and is also the chair of the compensation committee and the corporate governance and Nominating Committee. Berry will resign from the board while acting as the interim CFO.

Berry was the treasurer and head of strategy and business development for Del Monte Foods until June 2008, when he resigned to work as an advisor to private equity firms in the food and personal care industries. Prior to his experience at Del Monte, he was a management consultant with McKinsey and Company and Bain and Company.