Management and Board of Directors

Ingrid Jackel has served as chairwoman of the Board since January 2008, as Chief Executive Officer since August 2006, as a director since September 2006 and as Senior Vice President-Marketing from April 2003 to August 2006. Ms. Jackel is responsible for setting the overall corporate strategy, with an ongoing emphasis on long-term profitability and accelerated growth opportunities while overseeing all creative and operational activities of the company's new product innovation process. Ms. Jackel joined Pierre Fabre in the U.S. in 1994 and served in a variety of management roles, including Vice President of Marketing for Physicians Formula from May 1998 to March 2003 and Director of Marketing for Physicians Formula from July 1997 to April 1998. Prior to joining Physicians Formula in 1995, Ms. Jackel served in a variety of marketing management roles in the U.S. and France for cosmeceutical brands such as Avene, Elancyl and Aderma of the Pierre Fabre group. Ms. Jackel was awarded the Women's Wear Daily prize for the "most innovative marketer of the year" in mass market cosmetics in 2003.

Jeffrey P. Rogers has served as a director since January 2008, as our President since August 2006 and as our Senior Vice President—Sales from January 1998 to August 2006. Mr. Rogers is responsible for all aspects of sales, new business development and category management. In addition, Mr. Rogers maintains the relationships with the Company's key retailer customers. Mr. Rogers joined Physicians Formula in April 1991 as a Sales Director and was promoted to Vice President of Sales in June 1991. Mr. Rogers has more than 20 years of experience in the cosmetics industry. Prior to joining us, Mr. Rogers worked at Revlon, Inc., a manufacturer and marketer of cosmetics, skincare, fragrances and personal care products, and Del Laboratories, Inc., a manufacturer and marketer of cosmetics and over-the-counter pharmaceuticals.

Charles Hinkaty was appointed to the Company's Board of Directors on October 19, 2009. Mr. Hinkaty was the President and Chief Executive Officer of Del Laboratories, Inc. from August 2005 through his retirement in January 2008. Prior to that, Mr. Hinkaty was the Chief Operating Officer of Del Laboratories, Inc. from January 2005 to August 2005, and Vice President of Del Laboratories, Inc. and President of its subsidiary Del Pharmaceuticals, Inc. from 1985 to January 2005. Mr. Hinkaty served as a director of Del Laboratories, Inc. until December 2007 and has also been a member of the Board of Directors of FGX International since September 2008. He also led the Consumer Healthcare Products Association from 1999 to 2001.

Bruce Kanter was appointed to the Company's Board of Directors on July 1, 2011. Mr. Kanter was the Executive Vice President and Chief Financial Officer of Westwood One, Inc. (WWON), a public company operating as the leading radio program syndicator from December 1991 to February 1994. Before that, he was the Senior Vice President and CFO of Neutrogena Corporation, a leading skincare and cosmetics company from October 1980 until December 1991. Since retiring in 1994, Mr. Kanter has been active on several Boards, including being a 13 year-long director and two-time Chairman of Discus Holdings, Inc., a private dental products company. He also served as a Director of Westwood One, Inc. from 1991 to 1994, a Director of Infotec, a private software and systems support company from 1994 to 1996, a Director of Intermed Software, Inc., a private start-up company developing software for a physicians medical record system from 1995 to 1999, and a Director and Chairperson of the Audit Committee of Smtek International, an electronic manufacturing contractor from 1997 to 2000. With over 34 years of experience in the health, beauty and medical industries, Mr. Kanter brings to the Company's Board insightful perspectives on the opportunities and issues facing Physicians Formula.

Thomas Lynch was appointed to the Company's Board of Directors on April 29, 2010. Mr. Lynch is the Founder and Senior Managing Director of Mill Road Capital, L.P., an investment fund headquartered in Greenwich, Connecticut, which is a creditor and the largest stockholder of Physicians Formula, owning 18% of the Company's common stock. Prior to forming Mill Road, Mr. Lynch was the founder and a managing director of Lazard Capital Partners, where he created the fund's strategy, recruited the investment team and established one of the top performing 1997 vintage private equity funds in the United States. Prior to Lazard, Mr. Lynch was a managing director at The Blackstone Group and a consultant and project manager at the Monitor Company, the management consulting firm founded by Michael Porter. Mr. Lynch is a member of the board of directors of the Panera Bread Company (NASDAQ: PNRA) and Golub Capital (NASDAQ: GBDC). Mr. Lynch has previously served on numerous other public, private and not-for-profit boards.

Alec Taylor was appointed to the Company's Board of Directors on December 14, 2011. Mr. Taylor has been the Chief Executive Officer of FGX International since October 2005 and the Chairman of its Board of Directors since October 2007. Before joining FGX International, he was President and Chief Operating Officer of Chattem, Inc., a publicly traded manufacturer and marketer of health and beauty products, toiletries and dietary supplements, from 1998 to September 2005, and a director of Chattem from 1993 to 2005. Mr. Taylor was previously an attorney with Miller and Martin in Chattanooga, Tennessee, from 1978 to 1998. Mr. Taylor is also a director of Focus Products Group and Olan Mills, Inc.