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.

Jeff M. Berry was appointed Chief Financial Officer in February, 2010. Previously, Mr. Berry served as Interim Chief Financial Officer since May 29, 2009 and served as a director from October 2007 to May 2009. Mr. Berry served as Vice President and Treasurer of Del Monte Foods Company from August 2006 to October 2008, where his responsibilities included corporate treasury, corporate and financial strategy, M&A and business development and public relations. Mr. Berry served as Vice President, Strategic Planning and Business Development of Del Monte Foods Company from March 2003 to August 2006. Mr. Berry began his career with Bain and Company and held a variety of positions with McKinsey and Company from September 2001 to late 2002, where he advised several consumer products and retail clients in the areas of strategy, branding and marketing. Mr. Berry has a MBA from the Harvard Business School and a B.S. with Highest Honors from the University of California, Berkeley.

Zvi Eiref has served as a director since August 2007. Mr. Eiref was employed as Chief Financial Officer of Church & Dwight Co., Inc., for a total of 20 years from 1979 to 1988, and again from 1995 to 2006. Mr. Eiref served as Chief Financial Officer of Chanel, Inc. from 1988 to 1995 and, prior to this, held positions at Unilever and Arthur Andersen in Europe. Mr. Eiref is a director of FGX International Holdings Limited and Unigene Laboratories, Inc. and is an English Chartered Accountant.

Padraic Spence has served as a director since April 2009. Mr. Spence is currently working as a consultant to the consumer packaged goods industry. From January 2005 to January 2009, Mr. Spence served as the President of Levlad LLC, a manufacturer and marketer of premium quality cosmetics and over-the-counter pharmaceuticals, and a director of Natural Products Group, the parent company of Levlad LLC. In 1995, Mr. Spence founded SPINS, Inc., a market research firm for the health and wellness industry. Mr. Spence was the Chief Executive Officer and Chairman of the Board of SPINS, Inc. from 1995 through 2004. He began his career in 1992 as Vice President of Kashi Company, a division of Kellogg's and a marketer of ready-to-eat cereals and other grain-based products. Mr. Spence received his M.B.A. from the Harvard Business School and was awarded his A.B. magna cum laude from Harvard College.

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.

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.