Gregg Renfrew sold to private equity to remain CEO and pursue IPO
Gregg Renfrew · Beautycounter: Gregg Renfrew. She Built Beautycounter to $1B… Then Got Fired From Her Own Company · May 4, 2026 · at 48:42
Gregg Renfrew, founder of Beautycounter, discusses the decision to sell a majority stake in Beautycounter to The Carlyle Group in May 2021 rather than selling to a strategic buyer.
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“And the reason that I chose to sell to a financial sponsor versus a strategic, because I had been Approached by a strategic two years prior, which is why... I felt like I wanted to be that next generation leader in beauty, and I wanted to take the company public ultimately, and I thought that I had the chops to do it”
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“They made the decision in October that I was not capable of running the company, and they decided to remove me as CEO.”
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“I felt better with his departure than I did with him staying there. So for me, I didn't feel that he was the right person for the job, and I felt more confident in the choice they made in their interim CEO, Mindy McKenzie, with whom I partnered really, really …”
Beautycounter's closure forced Gregg Renfrew to lay off employees without severance
“So I ended up having to let go of the majority of the associates for the company without severance or health insurance, which was horrendous.”
Martha Stewart and COO Sharon Patrick fought constantly over everything
“Martha and Sharon fought a lot. They had differences of opinion on just about everything, so that was the first thing, and I think dual reporting of equal measure is challenging.”